It’s now been explained by AIG that the soiree at the St. Regis Resort was actually held for the top-producing life insurance agents and not for the employees.

So, just to be clear, the six-figure post-bailout party was for the agents that sold the highest dollar amounts of the riskiest insurance instruments to the highest number of unwitting buyers.

Well that explains it then.  Party on Garth.

BREAKING NEWS — It’s just been announced that the Federal Reserve just agreed to provide AIG with a loan of up to $37.8 billion, on top of one made last month. 

Party time!

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