Thursday, March 19, 2009

AIG gave NY Dems $100K before save

The AP reports:
New York campaign finance records show American International Group Inc. donated $100,000 to the state Democratic Committee just before Democratic Gov. David Paterson and his insurance superintendent launched marathon sessions to prop up the embattled insurer.

The contribution was made Aug. 29. Insurance Superintendent Eric Dinallo started negotiating with AIG and federal officials within about two weeks.

On Sept. 16, Paterson announced the "great news" that New York officials helped the giant insurer strike a historic loan deal with the Federal Reserve to keep AIG afloat.

A national consumer advocate called it a "classic example" of how insurance companies buy clout in states and in Washington.
Imagine that.