AIG to continue lobbying lawmakers despite bail-out
Source: Financial Times
AIG to continue lobbying lawmakers despite bail-out
By Stephanie Kirchgaessner in Washington and Francesco,Guerrera and Saskia Scholtes in New York
Published: October 13 2008 03:00 Last updated: October 13 2008 03:00
AIG has no plans to suspend lobbying activities in Washington, in spite of the US government's unprecedented $85bn bail-out of the insurance group.
The company, which is coming under intense pressure in Congress to rein in excessive spending, said it would continue to lobby members of Congress because it was important for the company and its shareholders to keep tabs on legislative activities in Washington.
"We will still operate our government affairs activity, watching the legislative process to figure out what the impact on our business will be," AIG said.
AIG has spent more than $16m since January 2007 lobbying the government on issues ranging from housing laws to financial regulation.
While the bulk of its -lobbying activity has been performed in-house, the -company has also spent millions of dollars on outside lobbyists. Wayne Berman, the veteran lobbyist and -fundraiser who serves as -co-chair to presidential -candidate John McCain's finance committee, served as a lobbyist for AIG as late as June of this year, generating $50,000 in fees for Ogilvy, his lobbying company.
LinkHere
AIG to continue lobbying lawmakers despite bail-out
By Stephanie Kirchgaessner in Washington and Francesco,Guerrera and Saskia Scholtes in New York
Published: October 13 2008 03:00 Last updated: October 13 2008 03:00
AIG has no plans to suspend lobbying activities in Washington, in spite of the US government's unprecedented $85bn bail-out of the insurance group.
The company, which is coming under intense pressure in Congress to rein in excessive spending, said it would continue to lobby members of Congress because it was important for the company and its shareholders to keep tabs on legislative activities in Washington.
"We will still operate our government affairs activity, watching the legislative process to figure out what the impact on our business will be," AIG said.
AIG has spent more than $16m since January 2007 lobbying the government on issues ranging from housing laws to financial regulation.
While the bulk of its -lobbying activity has been performed in-house, the -company has also spent millions of dollars on outside lobbyists. Wayne Berman, the veteran lobbyist and -fundraiser who serves as -co-chair to presidential -candidate John McCain's finance committee, served as a lobbyist for AIG as late as June of this year, generating $50,000 in fees for Ogilvy, his lobbying company.
LinkHere
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