1_ManOnBeach.jpgThe party is literally over at American International Group, as the beleaguered company scrapped plans to host a second lavish junket to reward top-performing agents in the wake of a tsunami of criticism for continuing to live the high life, throwing a $400,000-plus celebration for life producers after begging Uncle Sam for not one, but two massive loans topping $120 billion to keep the organization afloat.

AIG was politically tone-deaf to go forward with its sweet retreat for loyal life agents–right after nearly going under and threatening to take the entire financial system with it. The criticism from Washington came fast and furious.

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