Congressman Thompson Outraged over AIG Bonuses

Mar 16, 2009

Washington, DC – U.S. Representative Glenn ‘GT’ Thompson, R-Howard, issued the following statement denouncing AIG’s reported $165 million in bonus payments to ‘contractually obligated’ employees: 

“After supplying AIG with $170 billion in taxpayer dollars to keep them afloat, and now learning that $165 million of this was used to pay employee bonuses, I can only say that this is an utter disgrace and an outright slap in the face to all of the hard working men and women of this country who are struggling to make ends meet.

“But this is only the latest boondoggle to hit the newsstands – and I urge Congress and the Administration not to stop their investigations here.  The taxpayers deserve to know that no company which accepted Federal funds used those funds to pay bonuses. 

“And while I share the President’s outrage over AIG, I urge him and his allies in Congress, to re-examine the books of Fannie Mae and Freddie Mac – who paid exorbitant bonuses to their top executives in the years leading up to this financial crisis. The Administration’s zeal should not be reserved solely for AIG; taxpayers deserve to recoup the misspent millions at Fannie Mae and Freddie Mac, as well.”

#####