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DeGette Comments On AIG Bonuses

Press Release

Date: March 16, 2009
Location: Washington, DC
Issues: Business and Consumers Government Budget and Spending

DeGette Comments On AIG Bonuses

U.S. Rep. Diana DeGette, a member of the New Democrat Coalition, today released the following comments on the American International Group (AIG) senior executives who are set to receive $165 million in bonuses even though the company accepted hundreds of billions of dollars in TARP funding.

"Businesses receiving government support should not be offering bonuses at the expense of the American taxpayer. While recognizing the contractual obligations of AIG, bonuses should only be paid after taxpayers are fully repaid. This problem underlies the necessity of the New Dems regulatory framework of strengthening consumer confidence through effective and efficient regulation. We cannot ensure market stability without strong oversight of these companies who seek government support, while at the same time, dole out huge financial bonuses from the pockets of the American taxpayer."

U.S. Rep. DeGette will join her colleagues in Congress in sending a letter to Secretary Giethner to express their anger over AIG's payment of $165 in executive bonuses.


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