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March 18, 2009

Obama Got an AIG "Bonus," Too

Clawback?

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.

Misjudged which risk? The Obama risk?

Obama got this "bonus" from the unit headed by the guy with a fondness for Che Guevera, eh? How cozy.


Of course Obama knew about the bonuses before they were paid out. He was too busy appointing culture ministers to trouble himself before the firestorm erupted, though.

Bonus Bonuses: Fannie Mae's got a similar retention bonus plan. And Fannie got bailed out more than AIG.

Where's Barney Frank on this?


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posted by Ace at 10:53 AM

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