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Ros-Lehtinen Co-Sponsors Amendments to Bipartisan Economic Bill that Will Assure that Executives of Rescued Companies be Fired & Not Given Compensation Packages

Press Release

Location: Washington, DC

Ros-Lehtinen Co-Sponsors Amendments To Bipartisan Economic Bill That Will Assure That Executives Of Rescued Companies Be Fired & Not Given Compensation Packages

Congresswoman Ileana Ros-Lehtinen, senior member of the Florida Congressional Delegation, threw her support behind two amendments introduced by her colleague, Mark Kirk (R-Ill), for the bipartisan economic bill that would safeguard the taxpayers and make sure their money is not used in rewarding greedy and corrupt Wall Street executives.

The Kirk amendments would take the following actions:

* If a company receives these federal funds, its senior executives will be fired.
* NO taxpayer funds for senior officer pay or for hefty retirement packages.

The amendments would authorize the termination of senior executives of any company seeking financial relief from the federal government. The second Kirk amendment will assure that no taxpayer dollars will be used for compensation packages for executives of a company that received assistance under the economic plan.

Said Ros-Lehtinen, "The grave and serious mistakes made in Wall Street are now reverberating all across Main Street. While we are adamant in assuring that no more damage is done to the economy and the taxpayer, we will not just sign over a $700 billion check without guarantees on its usage.

These amendments will provide that necessary guarantee so that our hard earned money is not used towards offering compensation packages to the very inept and corrupt executives that brought us into this dire situation. Also, if a company will receive federal funds then its senior executives must be fired. One cannot simply make so many mistakes and not expect consequences."

It is not known yet if these amendments will be adopted.

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