More AIG Splurges: $86K Hunting Trip, Lobbyists

$86K trip to England comes after feds' $85B handout, $38B loan
By Newser Editors and Wire Services
Posted Oct 16, 2008 9:52 AM CDT
More AIG Splurges: $86K Hunting Trip, Lobbyists
The hunting trip and lobbying revelations come as New York State Attorney General Andrew Cuomo launched an investigation into AIG's recent expenses.   (AP Photo/Craig Ruttle)

The $440,000 spa weekend isn't the only outrageous splurge AIG seems to have indulged in after being bailed out by taxpayers last month. Now come news of an $86,000 hunting trip in England, turned up by New York Attorney General Andrew Cuomo. And the faltering insurance giant is also still paying lobbyists to fight against strict oversight of mortgage originators, the Wall Street Journal adds.

The hunting trip was “an annual event for customers,” planned ahead of the almost $123 billion in total federal loans, a company official says, adding, “AIG’s priority is to continue focusing on actions necessary to repay the Federal Reserve loan and emerge as a vital, ongoing business.” Cuomo vows to ferret out and rescind any inappropriate spending since the Fed bailout. Of the hunting trip, the spokesman said, "We regret that this event was not canceled."
(More financial crisis stories.)

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