AIG Teaches Rangel an Ethics Lesson

From Ruth Marcus:

My favorite part of the ethics report on Charlie Rangel involves his efforts to “close” a $10 million gift “to create AIG Hall” as part of the Rangel Center at the City College of New York. Yes, that AIG.

At a meeting in April 2008, the New York Democrat, then chairman of the House Ways and Means Committee, “asked AIG, at least twice, what was necessary to get this done,” according to the report. The insurance giant wasn’t so sure about writing the check, citing the “potential headline risk.” When AIG — the company that paid out hundreds of millions in bonuses after being rescued by a government bailout — recognizes an appearance issue, you know you’ve got a problem.