Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Current Events & Hot Topics Current Events & Hot Topics

Will Obama, McCain, Dodd Return Contributions From AIG Employees?

Posted by on Apr. 1, 2009 at 5:46 AM
  • 3 Replies

Will Obama, McCain, Dodd Return Contributions From AIG Employees?

AIG Gave More Than $630,000 During the 2008 Political Cycle

By JONATHAN KARL

March 18, 2009

AIG employees kept doling out donations to politicians, including presidential candidate Barack Obama, after getting bailed out with federal funds last year, raising the question of whether those politicians will now return the money.

AIG executives gave more than $630,000 during the 2008 political cycle even as the company was falling apart

According to the Center for Responsive Politics, which tracks campaign finance reports, more than $120,000 of that money was donated after AIG received its first $85 billion in federal bailout funds in September. The company has since received a total of $170 billion in taxpayer cash to prevent its collapse.

Their generosity included more than $23,000 to Obama's campaign.

Both Obama and Republican presidential candidate John McCain raked in much larger sums from AIG earlier in the year. Obama collected a total of $130,000 from AIG in 2008, while McCain accepted a total of $59,499.

This raises two key questions: Was any bailout money used to make political contributions? And will the politicians who received AIG cash give the money back?

ABC News has asked the question of the big recipients of AIG cash on Capitol Hill, including Rep. Paul Kanjorski, D-Pa., the guy chairing today's AIG hearing. Kanjorski received $12,000 in AIG contributions during the 2008 political cycle.

AIG's CEO Edward Liddy said he imposed new rules when he took over the struggling insurance giant six months ago, banning further lobbying of politicians and ending political donations from AIG's two political action committees.

Records indicate that AIG's PACs stopped making donations, but contributions from AIG executives continued right up to the presidential election.

One suggestion: Perhaps the money could be paid back not to AIG but to the U.S. Treasury.

Here's the list of top AIG recipients for the 2008 campaign:

1. Sen. Chris Dodd, D-Conn., $103,100
2. Sen. Barack Obama, D-Ill., $101,332
3. Sen. John McCain, R-Ariz., $59,499
4. Sen. Hillary Clinton, D-N.Y., $35,965
5. Sen. Max Baucus, D-Mont., $24,750
6. Former Gov. Mitt Romney, (R) Pres $20,850
7. Sen. Joe Biden, D-Del., $19,975
8. Rep. John Larson, D-Conn, $19,750
9. Sen. John Sununu, R-N.H., $18,500
10. Former Mayor Rudolph Giuliani (R) Pres $13,200
11. Rep. Paul Kanjorski, D-Pa., $12,000
12. Sen. Dick Durbin, D-Ill., $11,000  

by on Apr. 1, 2009 at 5:46 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-3):
Katie911
by on Apr. 1, 2009 at 9:25 AM

Should they? YES!  Will they? I seriously doubt it.  I think the government is making a grave mistake by bailing out all these companies.  I heard yesterday that two car manufacturers that got bail out may still file bankruptcy even though they received bailouts last year.  That is stupid.  We are wasting money. 

Autism is not a disablility, but ignorance is.

luckcharm
by Bronze Member on Apr. 1, 2009 at 11:42 AM

Yes they should return that money to the treasury,  if they could afford to donate it instead of use it to try to save their company then they don't need it.

I personally don't think they should have ever been put in charge of the money to begin with.  If they are losing their shirts because of paying off the insurance on the bad notes they insured then they should have been told to give a list of who held the claims to the treasury and then the treasury should have paid that money out directly to them.  AIG has proven to be to irrisponsible to deserve the money they recieved. 

                   

sweetie00
by on Apr. 1, 2009 at 12:16 PM

Politicians should not take a dime from any corporation. All political contributions should be done anonymously. Otherwise, it's bribery.

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)