AIG has decided to cancel a second pricey hotel party for their brokers after receiving another loan from the Federal Reserve for $37.8 billion dollars. AIG defended throwing a $400,000 week long bash for its top independent insurance agents and some AIG employees immediately after the bailout — claiming that these events were “standard industry practice” and that they must continue. They announced that they would go ahead with another event at the Half Moon Bay Ritz-Carlton in northern California. 50 AIG employees were expected to attend.
