Former AIG Financial Products CEO Joseph Cassano urged company executives and spouses to donate to U.S. Sen. Christopher Dodd as he was in line to take over chairmanship of the critical Senate banking committee in November 2006, a report published today said.
According to the Washington Times, Cassano sent out an e-mail that said: “As he considers running for president in 2008, Senator Dodd has asked us for our support with his re-election campaign and we have offered to be supportive.”
The executives were reportedly asked to write checks for $2,100 from themselves and their spouses, and to send them to Mr. Dodd’s campaign. The Times said the executives were, in turn, supposed to pass the message down the line to senior members of their management teams.
Dodd’s relationship with AIG has come under fire lately following his admission that he had agreed to a loophole in the February stimulus bill that paved the way for AIG to pay some $165 million in so-called retention bonuses.