Grassley: President is Right to Call Wall Street Bonuses Shameful in Bailout Environment, Should Work to Recoup, Prevent in Future

Press Release

Sen. Chuck Grassley, ranking member of the Committee on Finance, today made the following comment on President Obama's remarks this week that Wall Street bonuses rewarded during the ongoing economic crisis are "shameful" and the "height of irresponsibility." Grassley has sought to limit golden parachutes to executives of firms receiving federal help and worked to improve oversight of bailout spending.

"President Obama is right. These bonuses are shameful and the height of irresponsibility. I've said this many times. CEOs who run their companies into the ditch should beg for forgiveness, not rewards. The President should use his full power to pull back bonuses for bail-out recipients. That includes past recipients and those going forward."

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