AIG American General, one of the largest insurance companies today announced they will be restructuring in an effort to survive. The chance of making it is unknown at this time.
What is troubling is “following the money”, that often leads to political influence, lands at the door step of the Democrats, Obama, and Hillary Clinton. In 2000 and 2004 presidential election cycles the fore mentioned decried President Bush from accepting money from AIG.
Based on federal filings, of campaign donations, the Democrats have captured the lion’s share of money being passed around by AIG employees. Of over $250,000 in donations Obama was lavished with nearly 30% of their money, Clinton coffers obtained 18 % of the AIG money, and Joe Biden’s short run for president campaign still obtained a nickel of every dollar AIG passed around. Out of the 24 people seeking the United States’ top elected position these three grabbed over fifty cents of every influencing attempting dollar from AIG.
It appears John McCain was not much of a blip on AIG’s radar as he only captured 14% of their money. It should not be a surprise as McCain is often at odds with the insurance industry on a number of fronts. With today’s announcement by AIG it appears McCain may have been right about the industry.
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