Congressman Paul Hodes' Statement on the AIG Executive Bonuses

Statement

Congressman Paul Hodes' Statement on the AIG Executive Bonuses

Congressman Paul Hodes released the following statement on the news that the American Insurance Group (AIG), which received over $165 billion in taxpayer bailout funds, has paid $450 million in bonuses to top executives.

"After AIG posted record fourth quarter losses, I was deeply concerned that the company did not have a viable plan to continue operation without relying on even more taxpayer bailouts. I wrote to Secretary Geithner asking that he demand a plan from AIG demonstrating that they would stabilize their company without having to take billions more in taxpayer dollars.

We now know what their plan is: take billions of taxpayer dollars, while giving their failed executives millions in taxpayer financed bonuses. This type of corporate behavior is intolerable.

These executives should do the right thing and return their bonuses. It is wrong when millions of Americans are losing their jobs and struggling to pay their bills that the taxpayers are forced to subsidize AIG's failed corporate executives."

Source