Senate banking-committee Chairman Christopher Dodd who has received $280,000 in campaign contributions from AIG isn’t the only person in his family to benefit from a relationship with the embattled insurance behemoth.
His wife, Jackie Clegg Dodd, worked as an outside “director” for a Bermuda-based company affiliated with AIG, according to a report.
The Connecticut Democrat’s wife worked at IPC Holdings Ltd. for three years, beginning in 2001, according to a proxy statement obtained by Real Clear Politics.
She was paid $12,000 a year for her job, plus an extra $1,000 for every directors and committee meeting she attended, according to the Web site.
AIG was one of the original IPC shareholders but sold its 24 percent stake in 2006, two years after Mrs. Dodd stopped working there.
“To try to connect the AIG bonuses and my wife’s service on the board of this company, which ended five years ago, is nothing more than a cheap political attack,” Sen. Dodd said.
As chairman of the Senate’s influential Banking, Housing and Urban Affairs Committee, Sen. Dodd has been smack in the middle of the furor surrounding the $165 million in bonus payouts to AIG execs.
He helped craft the controversial bill that ended up giving hefty bonuses to the very execs who torpedoed the company.