Obama & Dodd Received AIG Campaign Money
Posted on | March 18, 2009 | 8 Comments
After much talk about the $165 milion in AIG bonuses, it has now come to fruition that both Senator Dodd and President Obama were the two largest recipients of AIG campaign money. They were the only two politicians that recieved over $100,000, in 2008, from the failing company. Dodd received $103,100 and then Senator Obama received $100,332. AIG gave more than $585,000 to Congressional and Presidential Candidates last year favoring Democrats 3 to 1 over Republicans.
“While AIG was collapsing, and her executives crawling to DC with hat in hand,” said Sen. Dodd, D-CT, “my campaign, and then-Senator Obama’s were getting what can only be termed influence bonuses from the same firm. Naturally, I knew nothing about this, and I’m now seething with anger at the injustice.”
I am glad to see you are on top of things Senator Dodd. This makes me very comfortable to know that my tax dollars are going to issues that you “know nothing about.” Dodd allowed AIG to rake in BILLIONS in his home state of Connecticut and allowed the AIG contracts that provided the bonuses, but now will work his tail off to get every dollar back? Nice try Senator Dodd. Why don’t you just tell us the truth?
Let me guess, the next thing that our wonderful adminstration will tell us is that the overall insurance market is healthy in the United States. Yeah, right! These are the same companies that lost over 65% of their stock value in the matter of two months. Nice try Obama and Dodd, you may fool the majority of Americans who voted for you, but you aren’t going to fool me. I actually look at the numbers and see how you are trying to manipulate them. Maybe Ron Paul and Peter Schiff will put you in your place again soon.
For those of you who do not know, it is very possible that we will see a life insurance crisis in America in the next six months. Insurance companies are heavily invested in the economy and the overall stock market. If the bear market continues to worsen, it is likely that many life insurance companies will go out of business as they will not have to capital to pay out policies. Not to worry though, the government will tell us everything is just fine until they start filing bankruptcy. Then our tax dollars will bail them out. So, in essence, you will be funding your own life insurance pay out.
- Life Insurance Crisis: Could Your Policy Really Disappear?
- First the Mortgage Crisis, Now the Life Insurance Crisis?
- Obama’s Making Home Affordable Program WILL Help You Refinance
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8 Responses to “Obama & Dodd Received AIG Campaign Money”
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March 18th, 2009 @ 10:09 am
[...] Subprime Blogger Obama & Dodd Received AIG Campaign Money [...]
March 18th, 2009 @ 6:49 pm
Breaking News: Dodd Says loophole that protects AIG Bonuses added per request of the Obama administration. The video is about a fifth of the way down.
http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/
Obama should take full and direct responsibility for this mess.
March 21st, 2009 @ 11:57 am
Funny that you don’t mention McCain being the 3rd highest recipient – $60k.
In the 2004 Presidential run, list of recipients include Dubya at the top.
Top Recipients:
Presidential Bush, George W $160,160
Senate Kerry, John $55,900
Senate Dodd, Chris $40,578
Senate Grassley, Chuck $18,250
Senate Crapo, Mike $16,500
Senate Bayh, Evan $16,250
Senate Murkowski, Lisa $14,500
Senate Bond, Christopher S ‘Kit’ $13,250
House Hastert, Dennis $13,049
Senate Lieberman, Joe $12,500
Senate McCain, John $12,500
House Johnson, Nancy L $12,400
Senate Gregg, Judd $11,000
Senate Carper, Tom $10,750
House Foley, Mark $10,500
House Burr, Richard $10,000
House Larson, John B $10,000
House Matsui, Robert T $10,000
Presidential Clark, Wesley $9,250
Senate Specter, Arlen $9,000
March 21st, 2009 @ 12:31 pm
Um, during the 2004 election the AIG stock price was $61.05; during the 2008 election the AIG stock price was $1.91. I am not good with numbers, but that seems to be a big difference.
March 21st, 2009 @ 12:44 pm
Admin, so your line of logic would be…..
the stock price in 2004 was $61.05 allowing them to make that obscene campaign donation of $160,000 to Dubya.
March 21st, 2009 @ 1:04 pm
Nope, my logic is that AIG was not owned by the government when it made those campaign donations in 2004 unlike 2008.
March 21st, 2009 @ 1:30 pm
You’re assuming that any entity that receives bailout $ is OWNED by our govt. If we owned it, then the govt would have taken over AIG like a failed bank AND fired its mgmt. That hasn’t happened period.
Who are you kidding? AIG’s 1st bailout of $85 started mid Sept,2008..well after the campaign donations were made to Obama and McCain.
March 21st, 2009 @ 1:37 pm
Start of bailouts started by Dubya’s admin in mid Sept and AIG’s behavior following that:
“On 10/17, AIG executives spent $86k on a luxurious English hunting trip. News of the lavish spending came just days after AIG received an additional $37.8 billion loan from the Federal Reserve, on top of a previous $85 billion emergency loan granted the month before. Regarding the hunting trip, the company responded, “We regret that this event was not canceled.”.
If we owned AIG, why were these lavish events allowed to continue? In March, we have the bonuses.