Wednesday, March 18, 2009

Obama Received a $101,332 Bonus from AIG




Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.


The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.

The Washington Post reports a "mob effect" at A.I.G financial products division:

A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.

With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama's A.I.G crocodile tears.

Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it's time to ask if recipients of A.I.G. "bonuses," including President Obama, will give what now ought to be taxpayer money back?

6 comments:

fuzzys dad said...
This comment has been removed by the author.
fuzzys dad said...

But he is the messiah. So all is forgiven.snark

VoteNovember2008 said...

That is correct Fuzzy! Keep the faith! VN8

OweMe1Cannoli said...

Chant with me: "Tax him!, Tax him! Tax him!"

geez what a buncha crooks! Why does this look so much like the Carter days?

Lincoln, my A$$!

Lee said...

I'm telling you, the outrage over AIG could not possibly be more insincere.

VoteNovember2008 said...

OM1 and Lee, ditto on all fronts! Sounds to me like the government didn't read the fine print any more than all of the people who are in foreclosure because they didn't know what they were signing either! I guess that is now a valid excuse! VN8