the buzz log

The economic meltdown has been stressful for everyone. That need to decompress may have been the excuse that AIG execs gave themselves when, after receiving a hefty $85 billion government bailout, 70 "top performers" were rewarded with a trip to a posh California resort for a little R & R. Then ran up a tab of $440,000 — $23,000 at the spa alone. Yes, as taxpayers will undoubtedly remember, that's our money they're spending on mani-pedis and the mini bar.

Not to worry, Congress is so on it. The Washington Post  reported that Rep. Henry Waxman kicked off a hearing on the matter saying, "We will ask whether any of this makes sense." That's a relief.

The public may have first learned of this rather flagrant disrespecting of the U.S. rescue plan when Sen. Obama mentioned the junket during the last presidential debate. Search on "aig spa" surged 827%. Conscientious investors also sought out "aig executives," "aig bailout," "aig retreat," and "latest aig news."

AIG says it's all a big misunderstanding. Sure, it may not look good that they went on a self-indulgent spending spree, when many people have lost their homes, their retirement funds, and their jobs. But this er, unfortunately timed "business event" was planned way before the bailout, according to U.S News and World Report. And no executives from the financial products division—the one that almost brought the company down—were invited to the junket.

Still, Americans may not appreciate the subtlety of that defense. Even the White House called the week-long excursion of wining and dining "despicable." It's enough to send us straight to the massage table.