The Associated Press is reporting that AIG gave $100,000 to the state Democratic Committee just weeks before Gov. David Paterson and the state insurance department helped keep the world’s largest insurance company in business.
The $100,000 contribution was made Aug. 29; on Sept. 15, Paterson announced that the state helped AIG access $20 billion of its subsidiary assets to use as collateral to stay in business.
The contributions, according to campaign finance records, was sent to the party’s housekeeping fund, which has no contribution limits. In April 2004, AIG gave $50,000 to the party’s housekeeping fund — it’s second largest contribution to the fund.
Overall, AIG has contributed $207,500 to the Democrats’ housekeeping fund since 2000, records show.
Updated: Here’s the statement from Paterson’s press secretary Errol Cockfield:
“The Governor had no knowledge of the August, 2008, donation to the New York State Democratic Party.
“His concern in September, 2008, was for the financial stability of a major employer in the State and he and his administration acted in the best interest of New York’s economy, working in coordination with the Federal Reserve.
“The Governor is outraged by the conduct of the AIG leadership, and he has directed his Insurance Superintendent, Eric Dinallo, to do whatever is necessary to protect the taxpayers.”