Crisis? AIG executives rack up a reported $86,000 tab during hunting trip...

First there was the $440,000 American Insurance Group Inc. spent entertaining executives days after receiving an $85 billion lifeline from the Federal Reserve, now it's $86,000 for a hunting trip in England as the faltering company reaped another $37.8 billion in taxpayer funded loans.

News of the hunting trip emerged Wednesday as New York Attorney General Andrew Cuomo ordered AIG to do away with golden parachutes for executives, golf outings and parties while taking government money to stay afloat.

"Even after the taxpayer-funded bailout of AIG, the company paid hundreds of thousands of dollars for luxurious retreats for its executives, including an overseas hunting party and a golf outing," Cuomo wrote in a letter to the New York-based insurer.

He said the spending could be "fraudulent conveyances" under a state law regarding debtors and creditors and noted that beyond those excesses millions were paid to executives who were running AIG as it faced dissolution with government help. More...

See also:

• AIG collapse: panic in Singapore...
• The State takes over AIG with massive loan...
• Credit crunch? Not for the fat cats; they're still laughing all the way to the bank...
• Crisis? Not for the fat cats at Barclays...
• Lehman Bros head took home $300m!!! Did you say a ultra-golden parachute?