March 18, 2009

Paid Outrage: AIG Bucks for then Senator Obama


"This whole AIG fiasco shows, once again, why the government shouldn't run anything, because it cannot run anything." -- Lawrence Kudlow

"I don't want to quell the anger!" Obama said today. Okay, let the anger rip.

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 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.

Top 5 Recipients of AIG contribution in order are: Dodd, Chris (D-Conn) $280,238, Bush, George W (R-Texas) $200,560, Schumer, Charles E (D-NY) $111,875, Obama, Barack (D-Ill) $107,332, McCain, John (R-Ariz) $99,249.

No wonder Barney Frank wants a list of the names of AIG bonus recipients. He doesn't make the list.

Meanwhile, back at Barnie Frank's ranch: Fannie plans bonuses of up to $611K for 4 execs

Fannie Mae disclosed its "broad-based" retention program in a recent regulatory filing with the Securities and Exchange Commission. The company was only required to disclose the amounts for the top-paid executives, who will pocket at least $470,000 on top of their base salaries. The bonuses are more than double last year's, which ranged from $200,000 to $260,000.

[HT: AIG Bonuses are Turning Up in the Strangest Places |]

Posted by Vanderleun at March 18, 2009 11:59 AM
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"It is impossible to speak in such a way that you cannot be misunderstood." -- Karl Popper N.B.: Comments are moderated and may not appear immediately. Comments that exceed the obscenity or stupidity limits will be either edited or expunged.

The feigned outrage over "bonuses" to employees is like a three card monte game. The real purpose is distract the spectators while the card players confederates pick their pockets. AIG was a conduit for over 170 billion$ to its counter-parties like Goldman Sachs. The "bonuses" were 1/10th of 1% of that amount, and what is worse, 1/100th of 1% of the 1.5 $ trillion that Congress has appropriated since Jan 20. The spectators are the taxpayers. The three card monte players are the politicians.

Posted by: Fat Man at March 18, 2009 1:27 PM

Bonnie Fwank bwose me away.

Posted by: E. Fudd at March 18, 2009 2:40 PM

Just a big misunderstanding. Barney Frank never said he favored bonuses for Fannie & Freddie. Rather, he wanted Freddie to bone us in the fanny.

Posted by: Gagdad Bob at March 18, 2009 4:06 PM

So now that OpenSecrets has revealed the first five names, of course Barney "Banking Queen" Franks will be hauling them before his committee, right? Mr. Dodd, right this way, sit over here next to Mr. Obama!!!

Posted by: Boots at March 18, 2009 9:32 PM

Pelosi's office wrote the bailout with the bonuses included. Dodd knew, or even put in, the specific language. Geitner is toast. He will be sacrificed.
And the great One will be able to feign indignation on behalf of all the sheep.
Create the problem, whine long and loud about how we have to fix the crisis now, only to give themselves ever more power.

Posted by: Adagny at March 21, 2009 6:18 AM

I really hope the rest of the world is catching onto what is going on here. Since Fox news aired the hearings and such, do the Fox Haters also believe that Fox News had set it all up because of their right wing bias? Fox doesn't have a right wing bias, actually. they just appear to be right wing because everything else is so far to the left.

Scary times.

Posted by: Affordable Insurance at March 23, 2009 7:59 PM