I totally agree, it looks bad. Maybe the money couldn't have been recovered, but the proper thing to do under the circumstances would have been to eat the non-refundable expenses and forego the junket, stay home and work on the mess.
I think AIG will survive this, though, and that in two or three years the taxpayers will be whole and the move will be seen as a wise decision.
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Date: 2008-10-08 04:17 am (UTC)I think AIG will survive this, though, and that in two or three years the taxpayers will be whole and the move will be seen as a wise decision.
The other ones...well, very hard to say.