After providing risky loans to Americans and they did not pay the banks, US financial institutes went bankrupt. AIG was fortunate to be saved by the government with their bailout plan.
After the US government announced the bailout, AIG's top executives spend US$440,000 on a holiday at a luxury resort somewhere in California. They get to celebrate with expensive wine and fresh lobsters while the world was cleaning up their mess.
Moral of the story: If you make a mistake, make sure it is a big one, one that will rock the world and force the world to save you.
The above article is taken and modified from TheEdge. All copyrights belongs to them.
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