by Alex Tabarrok
on March 18, 2009 at 2:48 pm
in Current Affairs
Looks like AIG bet on the wrong horse …
Neal, obviously AIG bet on the right horse. Obama did win, after all. The remaining question is, if the donations were a good use of the money.
Please send me $130,000. I accept cash or certified check.
“If the bonuses are pennies on the megadollar, is this pennies on the pennies? $130,000? Is this a serious comment?”
In the context of all this “outrage,” why not?
Peanuts. You would have to total up the contributions of the employees and officers if you want a realistic measure.
Lest we forget: this was the same Senator Obama (expressing his outrage as President only hours ago) who also used to champion “campaign finance reform”– but that was before he (shamelessly) renounced his former position of abiding by Federal campaign finance limits for his general election campaign. If Obama only adopts positions in order to abandon them–or as in this case, in order to express his moral indignation from the Oval Office–what kind of intellectual honesty and integrity can he legitimately claim?
Does anybody know what the total amount of funds donated to politicians by AIG was last year, would be interesting to compare. I think this might have been a drop in the bucket compared to all of the money donated to politicians.
I used to work at AIG in the 90s. At that time Hank Greenberg was interested in expanding in China. I worked on the corporate intranet and was tasked with creating a page to “educate” employees on “actions they could voluntarily undertake” to encourage their members of Congress “to improve the Chinese-American business climate.” We even made a corporate video in which Hank laid it on the line.
What the public is just hearing about now has been the culture at AIG for at least 12 years.
“So, I gather no one is an individual and everyone is merely a shill for their employer?”
This comment wins the thread. This story is typical of the abysmal standards for campaign-finance reporting. Reporters consistently conflate contributions from employees to contributions from the company. This is why the “giving on both sides of the aisle” trope has always been overblown–in an organization as large as AIG, of course some employees will support Democrats and others will support Republicans.
As long as we’re complaining about millions of dollars being paid out from taxpayer-subsidized entities, why not the hundreds of millions paid to baseball, football, and basketball players who are living off of the rents provided by stadiums paid for by taxpayers?
Obama should give the money he received back to AIG and keep his job.
AIG employees should keep the money they received from AIG and resign from AIG.
“As long as we’re complaining about millions of dollars being paid out from taxpayer-subsidized entities, why not the hundreds of millions paid to baseball, football, and basketball players who are living off of the rents provided by stadiums paid for by taxpayers?”
The city makes money off of these stadiums, these stadiums are not just used by the football teams. I live in Tampa, and we subsidized the Buccaneer’s Stadium,. There are concerts/ college football games/ monster truck shows/ political rallies at this stadium besides just pro-football teams.
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Oh come on, if voters were smarter they would have FEWER not MORE problems with the salaries of professional athletes. The average person thinks that players are intrinsically overpaid (better to have billionaire owners keep the money) and that ticket prices are driven by player salaries (and not supply and demand).
Money well spent, it appears.
If you want to see how AIG donated, http://www.opensecrets.org/orgs/summary.php?id=D000000123
Interesting to see that they gave as much to Dodd as Obama.
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