In the Ripley’s Believe It Or Not! department, American International Group Inc., famous for throwing a $440,000 wing-ding in the wake of its humongous government bailout, was about to have another one — at the Ritz Carlton in Half Moon Bay.
AIG spokesperson Nicholas Ashooh said the get-together at the $400-a-night hotel was designed to “motivate and educate” about 150 independent agents who sell AIG policies to the rich amongst us.
Others, it seems, got “motivated” as soon as they had been “educated” about the event. Swift uproar subsequently led to swift cancellation.
Prior to realizing what planet it was on, AIG had considered buying ads to explain its side of things only to be told by their PR man that it would be “a really bad idea.”
After getting an initial $85 billion from the Feds, followed yesterday by another $37.8 billion to “replenish liquidity,”
trying to explain it was the really bad idea?