From The Institute on Money In State Politics: Finance and insurance powerhouse American International Group (AIG) agreed this month to pay $1.64 billion to settle a lawsuit alleging deceptive accounting practices.
A new Institute on Money in State Politics report shows that AIG and its numerous member companies have spread their wealth to state-level politics in recent years, giving nearly $5 million in 33 states since 2000. California candidates, political party committees and ballot committees received by far the largest share of the campaign contributions, at $3.4 million. Recipients in New York followed with $610,000. AIG also gave to ballot committees active in tort reform and budget measures in California and Nevada in 2004.
A new Names in the News report looks at AIG's patterns of giving and the top recipients of the company's contributions. The report is available on the Institute's Web site, at www.followthemoney.org.