Bankers Bacchanalia at Monarch Beach “Saint” Regis: Trimalchian Feast on the Taxpayers’ Dime [VIDEO]
AIG painted The Saint Regis red for free on the taxpayers tab. Internet tabloid gawker reports that The St. Regis Monarch Beach is part of an elaborate scam to skim bailout funds and facilitate indulgences for banking elites courtesy of the tax-payers. When AIG executives celebrated the successful procurement of government cash at the luxury hotel, they partied away nearly $440,000 of the $85 billion American dollars they had been given by pampering themselves with feasts and orgies spa treatments.
Once corporate expense accounts were topped out, the largest stake holder in the St. Regis, AIG, gave the hotel to Citigroup to help shore up the $2.3 billion it already owed them. Now, thanks to taxpayers $85 billion dollar gift to AIG, the bailed out Citi has become the proud owner of the Trimalchian “Saint” Regis. This mean that the tax payer owns a piece of the lavish Regis, but don’t get excited, you can’t stay there or anything.
Illustration by Steven Dressler
Got something to say? Add your comments below and follow us on Twitter and Facebook by clicking the icons.
Click here for source article.
![Dimon, Chairman of JP Morgan Chase, Really Doesn't Get Why People are Mad at Him [VIDEO]](http://ficry.com/wp-content/uploads/2009/03/collages_dollar_art_14-150x150.jpg)
![FICRY Victims Not Giving Up Beer [VIDEO]](http://ficry.com/wp-content/uploads/2009/06/2542971064_f4094d90a7_o-150x150.jpg)
[...] The worst part, however, is the fact that after AIG used part of their bailout money to pay back another failing bank, Citigroup, for some bad bets it had made a while back. Then Citigroup, for its part, took over the ailing St. Regis, which couldn’t afford to pay the $70 million dollars that Citigroup was owed by the hotel. So instead of trying to claw its way out of a black hole of debt and actually begin to reimburse the American taxpayer, Citigroup has decided to hang on to the failing hotel so that all of its executives can continue to go on retreats while you take that third freelance job just to pay your rent. It’s like a 1930’s gangster movie, a Fellini film, and a dystopian Terry Gilliam epic all rolled… [...]