“Put us down for $400B the next time you need a bailout,” delighted U.S. taxpayers are telling American International Group upon news that the resurgent insurer is thanking Americans for the $182B bailout via a national ad campaign.
Finally, there’s an entity that appreciates the role that the U.S. government played in staving off a worldwide economic collapse. AIG’s ads are a stark contrast to those ingrates at General Motors, who are hell bent on dropping its “Government Motors” tag in the aftermath of its bailout.
To some critics, AIG’s campaign, which features employees talking about the company’s return from the edge of the financial cliff under the guidance of its capable post-bailout CEO Bob Benmosche, is a little much.
The New York-based company claims the U.S. Treasury pocketed a cool $22.7B profit on bailout. Is this the new model for public/private sector cooperation, some may wonder? If we give AIG $400B for the next bailout, will the Treasury stand to gain a $44B return?
AIG’s “Thank You America” campaign runs for two weeks. The ad schedule includes pricey buys during NFL playoff games, “60 Minutes,” “Good Morning America,” “The Today Show,” and in the New York Times, Financial Times, Wall Street Journal, USA Today and Los Angeles Times.
The ads promote AIG’s work as lead insurer at the new World Trade Center, participation in helping Joplin (MO) rebuild from its 2011 tornado and role in post Hurricane Sandy relief on the east coast.
AIG’s Sandy story stands in sharp contrast to the shameful Republican party, which now promises to vote Friday on a bill to provide federal dollars to victims of the hurricane that battered the east coast more than nine weeks ago.
It’s another case of the GOP putting strident partisanship over the needs of millions of Americans.
Brand GOP is not off to a good start in 2013.