In a moment of drama usually reserved for US court rooms, Mr Waxman showed off pictures of the grand staircase, sparkling fountain and white columns at the St Regis Resort in Monarch Beach, California. AIG executives had - according to the congressmen - convened there for a week-long retreat just one week after the US Treasury saved it from certain failure with an $85bn (€62bn, £48bn) bail-out. Bills showed the fallen insurer - and, some argued, US taxpayers - had paid nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

Bailout is sure helping the economy...NOT!