Monday, March 16, 2009

Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District released the following statement today on AIG’s plans to pay executives $165 million in bonuses after taking more than $170 billion in taxpayer money.

“It is an outrage that the same executives who are responsible for running AIG into the ground and deepening the economic crisis are in line for millions of dollars in bonuses.  AIG lost $61.7 billion in one quarter alone and has needed more than $170 billion of taxpayer money to stay afloat.  It’s hard to understand how that kind of performance can warrant a bonus of any kind.

“In my district, families have played by the rules only to lose their job or their home.  AIG’s executives have skirted the rules and regulations and left our economy reeling, yet they think they deserve a bonus.  That is unconscionable.  Congress and the Obama Administration should pursue every avenue to prevent AIG and any other company that has received taxpayer money from receiving millions in bonuses.”

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Tags: AIG