With $85B In Special Loans Set, AIG Suspends Lobbying

Having secured $85 billion in special loans from the United States taxpayer, American International Group (NYSE: AIG) has suspended its lobbying efforts in response to widespread criticism.

The Center for Responsive Politics reports that AIG spent $6.6m on in-house lobbying activists and another $768,000 on outside lobbying consultants so far this year.

The move comes in the wake of public outrage over AIG's perceived influence on elected officials and its decision to blow nearly half a million dollars on a luxury retreat for executives. But you have to admit, the publicity stunt of canceling the lobbying after the check has cleared is a wonderfully manipulative and hypocritical gesture.

Read the full story here

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Catch up on your AIG news:

::AIG Fraud Case: Using The Market To Set Jail Terms
::AIG Party: $86,000 Worth Of Partridge Hunting
::Fed Gives AIG Additional $37B In Aid
::Deborah Senn: AIG Executives Win Record Government Bailout: Next Stop, Disneyland
::AIG Congressional Hearing: "They Were Getting Manicures... While American People Were Footing The Bill"

Comments

[KCFreedom]

Guess it doesn't matter anymore. They already got "theirs".

I'm sure they'll still be lobbying in secret. It's paid off so well so far.

[Swetnam]

The recent conduct of AIG and its agents, and representations made to me by AIG employees, suggest the company never had an interest in information gathering. The actions of AIG suggests its “investigation” was merely a pretext to harrass and abuse us because AIG no longer deems our policy profitable. Based upon my conversations with AIG employees, it is my understanding that AIG operates in a similar fashion toward other policy holders who are similarly situated. Most of these folks, by definition, would be old, sick, and dying.

I have been a Republican all of my voting life but this year I'll be voting for senator Obama because my eyes have been opened in regards to the fact that these giant corporations are indeed out of control.

[Swetnam]

The opportunity to commit fraud in our situation simply doesn’t exist. The suggestion that we could somehow hide the deaths of either of our daughters, Betsy and Katie, is utterly absurd. Both girls have fairly rare diseases which have caused their bodies to be both very debilitated and very unique. We have lived in the same home for seven years. Both girls have seen the same pulmonologist three to four times per year for over 10 years. Both girls have been enrolled in the same school system for the last seven years. Both girls are active in our community. Both girls rely on medical services paid for by medicaid (Hoosier Healthwise). During our meeting with the AIG agent in 2007, we were candid and responsive to him. All of this information I’ve just outlined was provided to the AIG investigator during his “in-home” investigation on October 18, 2007.

[Swetnam]

My two children, Betsy and Katie, have a neuro-muscular disease known as Spinal Muscular Atrophy, Type I. The disease is considered terminal. In November 2000, as part of a structured settlement for a personal injury lawsuit, my wife and I agreed to permit the defendant in that case to make monthly payments to us as long as our two terminally ill children lived. This option was attractive to us because it helped insure we could afford the medical care the girls will need in the future. The structured settlement agreement permitted the defendant in that case to fund the periodic payments through the purchase of an annuity from AIG Annuity Insurance Company. We were not party to the defendant’s negotiations with AIG. The defendant is the owner of the AIG policy. We are simply listed as beneficiaries, and our children, Betsy and Katie are listed as the annuitants.

Recently, we have been subjected abusive and harrassing tactics by AIG during a “fraud detection investigat­ion.” We were never told AIG was conducting a “fraud detection investigat­ion.” Instead, we were informed AIG was simply verifying the continued existence of the annuitants. During the course of the “investigation” AIG employees have made numerous material misrepresentations. During the course of the investigation, AIG has sent strangers to our home unannounced. AIG wrongly withheld a scheduled electronic deposit with no warning. AIG employees have made numerous false and misleading representations regarding when the funds that were wrongly withheld would be deposited.

[WIpatriot]

How's this work? All we have to do is give every company that lobbies Congress $85 and the lobbying stops?? What a bargain!!!

[mjtaylor22]

MY WHOLE HEART HURTS TO EVEN THINK OF THE OBSCENE AMOUNTS OF MONEY BEING HANDED OUT TO CORPS AND NOT TO THE CITIZENS LOOSING THEIR HOMES. HOW DARN THE RNC CRY SOCIALISM, WHEN IT COMES TO TAX PAYERS AND NOT CRY SOCIALISM WHEN IT COMES TO TAX PAYERS PAYING FOR THE OBSCENE RISKS THAT CORPORATIONS TOOK, AFTER LOBBYING FOR LESS OVERSIGHT.
PALUSON IS TO BLAME IN THIS AS WELL. WHILE AT GOLDMAN SACHS HE LOBBIED FOR DECREASED REGULATION AND THE LIKE, IT IS COMPLETELY CRAZY
WHERE ARE THE HAND CUFFS

[iPolitics]

AIG, Welfare Rat

[PacificGatePost]

TIME FOR A RADICAL CHANGE IN THE ELECTORAL PROCESS

Taxpayers deserve independent representation with teeth. NOT suppliant gofers taking orders from special interests.

http://pacificgatepost.blogspot.com/2008/10/electoral-process-urgent-change-is.html

Will either candidate bring this up? Not likely.