Your Bailout Money at Work

Looks like high price executives are putting the trillion dollar taxpayer bailout of Wall Street to good use. The New York Times reported today:

“A week after the insurance giant, the American International Group, received an $85 billion federal bailout, executives at its life insurance subsidiary, AIG General, held a weeklong retreat at the exclusive St. Regis Resort in Monarch Beach, Calif. Expenses for the week, lawmakers were told, totaled $442,000, including $200,000 for hotel rooms, $150,000 for food and $23,000 in spa charges.

In addition, the former A.I.G. executive who led the London-based
division whose implosion is largely blamed for the insurance giantâ€™s
downfall, Joseph J. Cassano, continues to receive $1 million a month
from the company, on top of the $280 million he received in the last
eight years.”

Taxpayers are outraged. Some Congressmen appear outraged. But after hearings showed evidence of similar abuse by Enron, nothing changed.

A Note From the Publisher

Dear Readers,

The last two years have been some of the hardest in Eugene Weekly’s 43 years. There were moments when keeping the paper alive felt uncertain. And yet, here we are — still publishing, still investigating, still showing up every week.

That’s because of you!

Not just because of financial support (though that matters enormously), but because of the emails, notes, conversations, encouragement and ideas you shared along the way. You reminded us why this paper exists and who it’s for.

Listening to readers has always been at the heart of Eugene Weekly. This year, that meant launching our popular weekly Activist Alert column, after many of you told us there was no single, reliable place to find information about rallies, meetings and ways to get involved. You asked. We responded.

We’ve also continued to deepen the coverage that sets Eugene Weekly apart, including our in-depth reporting on local real estate development through Bricks & Mortar — digging into what’s being built, who’s behind it and how those decisions shape our community.

And, of course, we’ve continued to bring you the stories and features many of you depend on: investigations and local government reporting, arts and culture coverage, sudoku and crossword puzzles, Savage Love, and our extensive community events calendar. We feature award-winning stories by University of Oregon student reporters getting real world journalism experience. All free. In print and online.

None of this happens by accident. It happens because readers step up and say: this matters.

As we head into a new year, please consider supporting Eugene Weekly if you’re able. Every dollar helps keep us digging, questioning, celebrating — and yes, occasionally annoying exactly the right people. We consider that a public service.

Thank you for standing with us!