DeGette Comments On Aig Bonuses

WASHINGTON – U.S. Rep. Diana DeGette (D-CO), amember of the New Democrat Coalition, today released the followingcomments on the American International Group (AIG) senior executiveswho are set to receive $165 million in bonuses even though the companyaccepted hundreds of billions of dollars in TARP funding.

"Businessesreceiving government support should not be offering bonuses at theexpense of the American taxpayer. While recognizing the contractualobligations of AIG, bonuses should only be paid after taxpayers arefully repaid. This problem underlies the necessity of the New Demsregulatory framework of strengthening consumer confidence througheffective and efficient regulation. We cannot ensure market stabilitywithout strong oversight of these companies who seek governmentsupport, while at the same time, dole out huge financial bonuses fromthe pockets of the American taxpayer."

U.S. Rep. DeGette willjoin her colleagues in Congress in sending a letter to SecretaryGiethner to express their anger over AIG's payment of $165 in executivebonuses.

Click here for the New Democrat Coalition 21st Century Regulatory Structure.