AIG's use of $165 million in public funds to reward the company officials who ran it to the ground is despicable, U.S. Rep. Pete Visclosky said Thursday.
Visclosky, D-Ind., voted Thursday to approve legislation to impose a 90 percent tax on bonuses paid to executives at AIG and other firms receiving Troubled Asset Relief Program funds. The bill passed the U.S. House of Representatives by a vote of 328 to 93.
"I am furious that AIG is lavishing over $165 million in 'job performance' bonuses on the very executives who ran that company into the ground," Visclosky said.
The Indiana congressman and other members of the House have sent a letter to the secretary of the treasury, demanding that AIG be held accountable for its use of taxpayer funds. - By Andrea Holecek, The Times
