Posted on 03/18/2009 10:01:10 PM PDT by Aussie Dasher
BARACK Obama and New York senator Charles Schumer, leading the charge to recoup $US165million ($250million) in bonuses paid to employees of AIG, received nearly $US150,000 in campaign donations from the bailed-out US insurance giant.
As the White House attempted to contain a furore that threatens to damage the President's standing, New York newspaper Newsday reported that AIG donated $US101,332 to the US President last year, second only to Chris Dodd, chairman of the Senate banking committee, who received $US103,100.
Senator Schumer, who proposed legislation yesterday that would claw the bonuses back through a special tax of almost 100per cent on the payments, has received $US38,500 from AIG since 2000.
White House officials are planning to use an executive pay provision inserted into the recently passed stimulus law to recoup the bonuses.
The administration will use language that would allow the Treasury Secretary to take back payments if they were "inconsistent with the purpose" of the stimulus package or "otherwise contrary to public interest".
In a letter to Congress, Treasury Secretary Timothy Geithner said Treasury planned to use the law to deduct the cost of the bonuses from the Government's pending $US30 billion cash infusion, and would extract additional penalties from AIG operating funds.
Death threats and thousands of angry calls to its offices prompted AIG to post guards outside some buildings yesterday after it was revealed it paid out $US165 million in bonuses last week.
The popular outrage has been fuelled by the White House over the past 48 hours as it tries to deflect a crisis that signals an end to the President's honeymoon.
Fearful AIG senior executives said a "mob mentality" was taking over and "people's lives were in danger".
"It's going to blow up," an AIG senior financial products manager told The Washington Post.
(Excerpt) Read more at theaustralian.news.com.au ...
Just wait until they get they grubby hands on Fannie.
I do hope the media in Oz does not play lap dog for Obama over this and goes for the jugular. Just because the American MSM won’t hold Obama accountable for anything does not mean the entire world’s journalists will necessarily follow suit.
Obama and Dodd were the two top recipients of AIG political contributions in 2008. REPEAT: Obama and Dodd got the most political money from AIG last year.
That has to be a career-ending mistake for the both of them. Funny how it was Obama’s people who stirred up the AIG thing, and now they are going to reap the whirlwind of it. They have stepped in poop and it isn’t going to wipe off very fast. The smell is going to last.
IF what the 'white house' is doing is attempted containment I sure would hate to see what tearing down a dam would look like.
Dodd claims he is going to return his stash, I mean contributions given by AIG.
Will Obama?
I think they have become so accustomed to the scent of their own 'poop' it does not phase them one bit. These people supposedly do not even read the legislation they write, so they sure are not going to remember where they left their 'poop'.
So he’s going to give even more taxpayer-funded bail-out money to AIG?
Yet it's S.O.P. for The Nothing to throw AIG under the bus when it's necessary to direct the mob away from His Nothingness.
Change You Can Believe In, eh AIG? How does it taste?
Obama has Blagojeviched America.
You need to look under all the various AIG entities not just American International. Lexington Insurance, 21st Century, C V Star, 21st Century Casualty Co.; 21st Century Insurance Co.; AIG Casualty Co.; AIG Centennial Insurance Co.; AIG Premier Insurance Co.; AIU Insurance Co.; American General Indemnity Co.; American Home Assurance Co.; American International Insurance Co. of California Inc.; Birmingham Fire Insurance Co. of Pennsylvania; Commerce And Industry Insurance Co.; GE Auto & Home Assurance Co.; GE Indemnity Insurance Co.; Granite State Insurance Co.; Hartford Steam Boiler Inspection and Insurance Co.; Insurance Co. of the State of Pennsylvania; Landmark Insurance Co.; National Union Fire Insurance Co. of Pittsburgh, Pa; New Hampshire Insurance Co.; Pacific Assurance; Putnam Reinsurance Co.; Transatlantic Reinsurance Co.; United Guaranty Commercial Insurance Co. of North Carolina; United Guaranty Credit Insurance Co.; United Guaranty Residential Insurance Co.; and Yosemite Insurance Co; National Union Fire Insurance Co.; New Hampshire Insurance Co; Granite State Insurance Company; American General Finance; International Lease Finance Corporation; SunAmerica; and a whole lot of other firms.
My guess is the $$$ contributed are a lot larger when you look at the whole picture not just AIG.
http://2.bp.blogspot.com/_QHsCDdglhQA/ScAOr0CA1jI/AAAAAAAABGI/8lmYe1cwEb4/s1600-h/aigrecipients.jpg
Fannie Mae PAC Contributions to Federal Candidates 2008 cycle:
Nancy Pelosi: $10,000
Rahm Emanuel: $10,000
Barney Frank: $6000
Harry Reid: $8000
Patty Murray: $7500
Chris Dodd: $5000
Thats not counting the individual contributions by employees, just the company PAC. I did a search on Obama’s individual contributions by Fannie Mae execs and employees and it was 4 pages long.
Don't want to give libs any excuse to deflect the reality of the situation by calling it exaggerated.
This does not include the kickbacks.
When are they all going to give the Money back ? Is there a Bill to tax all those contributions ?
That Dodd ,couldnt happen to a nicer Sleazebag
Tax that 150,000 at 100%
Same 'claim' we heard from many other Dem politicians.
Has anyone ever heard anyone or any company 'claiming' they GOT the money back????
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