Kerry Condemns Bonuses for AIG Execs

[ProSense]

03/17/2009

Kerry Condemns Bonuses for AIG Execs

WASHINTON, D.C. – Senator John Kerry (D-Mass.), a senior member of the Finance Committee, today denounced the American International Group (AIG) for offering fat bonuses to executives after the failing company accepted millions of taxpayer dollars to restructure:

“I’ve had more than my fill of this malarkey and people are beyond wondering when Washington will stop swallowing these abuses. Something is seriously wrong when those who play by the rules have to struggle to pay their mortgages while the cheaters reward themselves. Companies that come to Congress looking for hand outs are their own worst enemies with such activities. I’m working now on legislation with the Finance Committee to end this nonsense by giving the money back to the American people where it rightfully belongs.”

[yy4me]

1. Good for Senator Kerry but lets hope this stand is for the current

money plus rules for future monies. Oh, how the AIG big whigs must be laughing at us. Like everyone else, I'm mad as heck about all of this and not very happy that it was allowed to happen in the first place. Where were the safeguards against this kind of bonus and business abuse in the first place. Shame on those who didn't build in protections in the first place. You don't give away billions without firm control on its use.

Sometimes I wonder.......