Thursday, March 19, 2009

Sen. Dodd(D) to Give Back AIG Campaign Contributions

$103,900 in 2008 campaign contributions, to be exact.

But only after he was relentlessly hounded into fessing up that it was he, Chris Dodd, democrat - Chairman of the Senate Finance Committee, who was instrumental in crafting the legislation which allowed the bonuses to be highballed to those AIG execs. (video)

"The executives in the eye of the storm work for a Wilton-based division of AIG Inc. called AIG Financial Products, which is actually being closed.

AIG Financial Products played a pivotal role in the parent company's problems that prompted it to seek and receive more than $170 billion in government bailout money.

Connecticut state lawmakers also are looking at ways to take away the bonus money, which is being awarded to the executives as an incentive to keep them on the job while the company sells off the financial products portfolios.

While Dodd worked with his colleagues to address the problem, he had to answer questions about more than $103,000 in donations he received from AIG Financial Products workers during the 2008 campaign.

This is not the first time Dodd has found himself in the position of pillorying a corporate villain in one breath and in the next defending himself from claims he's too cozy with the same miscreant.

It was revealed last year that Dodd, who raged against abuses by the mortgage industry, had received a preferential loan for his home.

Since he is Senate finance chairman, eyebrows have continued to be raised about the contributions he's received from Wall Street firms."

Gee, ya think?! How much more so would that be true for another senator who now just happens to be the POTUS?

Obama Received a $101,332 Bonus from AIG.


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