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By Jeremy Schiffres, Daily and Sunday Freeman, Kingston, N.Y.

Friday, October 10, 2008

Another Innovative Gouging

Let me see if I have this right:

A few weeks back, the federal government floated AIG an $85 billion loan to help the troubled insurer stay afloat.

Earlier this week, we learned that AIG - after begging for and receiving the government aid - spent $440,000 to send some of its executives to a swanky spa near Los Angeles for several days of overpriced pampering.

So what does the government, which should be livid, do in response? It announces on Wednesday that it's giving AIG another $37 million in financial assistance.

And people seriously wonder why the financial industry, the stock market and the U.S. economy are going to hell? It's not too difficult to figure out.



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