3/16/2009
Remember Who ELSE got paid by AIG?
Filed under: General — Karl @ 1:55 pm
[Posted by Karl]
As Pres. Obama tries to lead the “outrage” over bonuses paid to execs at troubled insurance giant AIG — and AIG’s payments to foreign banks, etc. — with the taxpayers’ money, let’s take a moment to remember which taxpayer employees got paid by AIG:
Over time, AIG hasn’t shown an especially partisan streak, splitting evenly the $9.3 million it has contributed since 1989. In the last election cycle, though, 68 percent of contributions associated with the company went to Democrats. Two senators who chair committees charged with overseeing AIG and the insurance industry, Sen. Chris Dodd (D-Conn.) and Sen. Max Baucus (D-Mont.), are among the top recipients of AIG contributions. Baucus chairs the Senate Finance Committee and has collected more money from AIG in his congressional career than from any other company–$91,000. And with more than $280,000, AIG has been the fourth largest contributor to Dodd, who chairs the Senate’s banking committee. President Obama and his rival in last year’s election, Sen. John McCain (R-Ariz.), are also high on the list of top recipients.
AIG has been a personal investment for lawmakers, too. Twenty-eight current members of Congress reported owning stock in AIG last year, worth between $2.5 million and $3.3 million. Sen. John Kerry (D-Mass.), one of the richest members of Congress, was by far the biggest investor in AIG, with stock valued around $2 million.
The list also includes Sen. Chuck Schumer (D-NY). All of which is undoubtedly coincidental to strings not being attached to the AIG bailout in the first instance.
Granted, the populist “outrage” over the AIG bonuses may be misplaced, as populism so often is. At least we can enjoy the prospect of those pols who fanned the populist flame looking impotent, hypocritical, disingenuous, or like the tools of their donors, instead of their constituents.
–Karl
patterico.com |
