Sign Up for My Email Newsletter!

Your Email Address:
   

 

 

Press Release

March 19, 2009

Rep. Susan Davis: Taxpayers Should Not Have to Pay for AIG Bonuses

WASHINGTON – Congresswoman Susan Davis (D-San Diego) released the following statement on bonuses paid to traders and executives at AIG.  House of Representatives approved legislation today to recoup the bonus money.  Davis supported the bill, which passed by a vote of 328 to 93.

“The fact that the AIG leadership could not have foreseen the outrage over these bonuses raises doubts about their ability to turn the company around.  People feel justifiably betrayed that their tax dollars are being used to provide additional compensation to AIG traders and executives.  I share their anger.

“We must recoup taxpayer dollars used to pay executive place bonuses and prevent the use of tax dollars for future payments.  It is time that we stopped executives, many of whom got us in this mess, from walking away with their pockets full while taxpayers are left holding the bag.

“There needs to be a quick change of thinking among the top executives at AIG.  Instead of calling Treasury Secretary Tim Geithner to simply inform him about the pending payments, AIG CEO Edward Liddy should have treated the American people, as the ones who are keeping AIG from ruin, with respect and sought advice for the best way to protect taxpayers’ dollars.

“AIG needs a plan to right the company and begin paying back the American people for the billions of dollars they provided to aid AIG.  And this must be done in a way that treats American people and their money with the respect they deserve.”

<- Back to releases