AIG Cancels One Bailout Party, Wachovia Plans Another

Last week AIG enraged Americans when it was found out they took a half a million dollar retreat for top executives immediately following their $85 billion dollar loan. When Congress found out about it and thoroughly thrashed them for such behavior, the corporate crooks promptly canceled their next trip at the Ritz in Half Moon Bay, CA. The criminals at Wachovia however, clearly did not get the message about how bad AIG's callousness can irk some people (like the ones screwed by the executives' greed).

From The LA Times:

As ailing Wachovia Corp. waits to see whether it will be acquired by Wells Fargo & Co. or Citigroup Inc. -- possibly with taxpayers paying the tab for hundreds of billions of dollars in bad loans -- some of the company's top brokers are preparing to depart Saturday for an all-expenses-paid cruise of the Greek Isles.

The weeklong trip for up to 75 employees of brokerage A.G. Edwards, which Wachovia acquired last year for nearly $7 billion, will also include spouses and significant others, said Teresa Dougherty, a Wachovia spokeswoman.

"This is one way that we recognize our top financial advisors," she said.

Yeah, I'm trying not to laugh at that last quote either. Those would be the same top financial advisors that helped lead Wachovia into the state it's in now. So not only are they screwing over Citi by backing out of a deal, they are pulling a double-whammy on the American taxpayers. First a baseball bat to the gut and now a nice spat on the face to rub it in. Sure must be nice to be in the upper echelons of these companies.