A top AIG executive in 2006 tapped his subordinates for hefty donations to Connecticut Sen. Chris Dodd as he prepared to take control of the Senate Banking committee, Jennifer Haberkorn and Jerry Seper are reporting.
As banking committee chairman, Dodd would have some influence over AIG’s dealings. Earlier this year Dodd — at the behest of the Treasury Department — added wording to the bailout legislation that allowed AIG executives to keep lucrative bonuses paid for with taxpayer money.
AIG has received more than $170 billion in federal bailout money and paid at least $218 million in bonuses.
Dodd must feel a little like Michael Corleone: “Just when I thought I was out, they pull me back in.”
Now Dodd faces a tough challenge for re-election next year. If only that presidential run had gone better last year …
AIG might be too big to fail — but the politicians helping to prop it up aren’t.