FOR IMMEDIATE RELEASE: Congressman Eric Massa expresses deep frustration about unfair AIG bonuses

News release from

Congressman Eric Massa

29th District, New York

 

Monday, March 16th, 2009

 

FOR IMMEDIATE RELEASE:

PRESS SECRETARY: Jerri S. Kaiser - (XXX) XXX-XXXX

COMMUNICATIONS DIRECTOR: Jared Smith - (XXX) XXX-XXXX

 

Congressman Eric Massa expresses deep frustration about unfair AIG bonuses

 

Rep. Massa calls on House Finance Committee Chair Barney Frank (D-MA) to begin Congressional Investigation to find ways to recover bailout funds from Insurance Giant

 

CORNING, NY - Today Congressman Eric Massa expressed his deep frustration and anger over the $165 million in bonuses insurance giant AIG is giving out despite receiving government bailout funds from TARP money. Rep. Massa opposed TARP spending because, as he said at the time, there was not enough transparency or accountability in the program. Today, he took the step of calling on House Finance Committee Chairman Barney Frank (D-MA) to initiate a Congressional investigation to find ways to recuperate TARP funds from AIG.

 

"I am furious over this blatant waste of taxpayer dollars," said Congressman Eric Massa. "I opposed the banking bailout specifically because I saw this kind of government waste on the horizon. When we have AIG executives giving themselves $165 million in bonuses after the government committed $170 billion to save the company, it is not only unacceptable, I think it's borderline criminal."

 

"American taxpayers are sick and tired of failed Wall Street executives using their money on bonuses and extravagant resort vacations. I cannot remain silent while families in my district worry about their jobs and their pensions. That is why today I have asked my colleague Rep. Barney Frank, the Chair of the House Finance Committee, to hold open and public Congressional hearings so we can get our money back from AIG."

 

"I think it's about time that we use the full power of the Congress to get into the wallets of those greedy executives that have decided its ok to fleece the American taxpayer. It's not their money, it's our money and we need a full Congressional investigation. These specific executives give American business and the vast majority of CEO's who are working to save our economy a bad name. It's not fair and we need to hold them accountable for their decisions."

 

"In the end, Washington lawyers may win this fight, but if we had let AIG go bankrupt these bonuses would never have been paid and it's about time that we let that happen. I will continue to fight any Wall Street bailouts."

 

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Jared Smith

Communications Director

The Office of Congressman Eric Massa

(XXX) XXX-XXXX

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