Another AIG Resort 'Junket': Top Execs Caught on Tape
The reports of the resort gathering came on the same day the U.S. Treasury announced it would invest $40 billion in AIG to bring the amount the federal government has put up to prevent the troubled insurance company from declaring bankruptcy to $150 billion.
"This action was necessary to maintain the stability of our financial system," said Neel Kashkari, who heads the government's bailout program.
"In return," said Kashkari in a speech today, "AIG must comply with stringent limitations on executive compensation for its top executives, gold parachutes, its bonus pool, corporate expenses and lobbying."
In addition to Roth and Tambaro, the AIG executives who spent last week at the Phoenix resort, according to KNXV, were Mark Schlafly, president and CEO, FSC Securities' Gary Bender, senior vice president, Investment Advisory Services; and Stuart Rogers, senior vice president.
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