Last October, I remember hearing about a lavish corporate retreat that insurance giant AIG held at a posh resort near San Diego. They spent $440,000 on golf, spa treatments, food and cocktails, just weeks after receiving a government bailout of $85 billion.
Just last month, a story broke that Wells Fargo - which received $25 billion in federal bailout money - booked a corporate junket at the Wynn in Las Vegas to reward top employees and their guests. After intense media scrutiny, it canceled. Same with Morgan Stanley, which abruptly canceled its employee outing to Monte Carlo.