You Can't See the Fire or Smell the Smoke . . . Yet

File this under: I couldn’t make this up if I tried.

Just weeks ago, the federal treasury gave AIG, the insurance conglomerate, some $85 billion to help shore up the tidal wave of security claims the company found itself obligated pay. People wanted their money, AIG didn’t have the assets on hand, so the government stepped in to shore them up. What did AIG do with that $85 billion they were given on behalf of the American taxpayer? They turned around and threw a We-screwed-over-the-government-and-taxpayers party! AIG executives took some of their highest performing insurance agents to a weekend spa where the company spent $500,000 on hotel rooms, booze, massages, and manicures.

I. Shit. You. Not.

Yes, after running their company into the ground from their own greed and stupidity, AIG turned around, took $85 billion of taxpayer money from the U.S. treasury, and spent a half million dollars of it to live it up at a high-priced resort.

It gets better though! Just yesterday, the treasury just gave AIG another $35 billion. Yup, that’s right. Even though a congressional hearing just got done grilling a pair of AIG executives about their high class retreat, the same government turned around and gave them even more money.

I just don’t know what to write here. I am at an utter loss in the face of AIG’s unmitigated gall, bald-faced nerve, metal-solid balls of steel. But I’m equally amazed by the blinding stupidity of our very own government. This isn’t rocket science! These people are ripping us off! Why is Henry Paulsen giving a corrupt company MORE goddamn money on the heels of such blatant disregard for their own financial plight? We shouldn’t be giving them more money! We should be taking away the $85 billion we gave them in the first place. They obviously learned nothing from their collapse, as evidenced by the party they threw themselves celebrating the congressional sellout. Throwing a half million dollar party? For failing? Really?

Right now, I think I’m content with seeing AIG crash and burn into insolvency. Even if it pulls the American economy down with it. I think that’s the only way anyone will learn. When a company uses bailout money to fund more of its previous lifestyle and our government continues to give them more money upon disclosure, it seems only a total economic meltdown will get any of their attention. America is led by men concerned only with getting themselves reelected and lining their pockets. Our companies are led by men content to see their country destroyed if that’s what it takes to make them rich.

I despair the United States is bankrupt of genuine leadership. We all have grown fat and complacent and bored with our democracy and our power and our wealth. Our lethargy is reflected in the people we send to Washington to represent us and run things. We’re an ailing empire. A declining power.

Rome is burning.