[Congressional Record Volume 155, Number 47 (Wednesday, March 18, 2009)]
[House]
[Page H3608]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        AIG'S EXECUTIVE BONUSES

  (Mr. LANGEVIN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. LANGEVIN. Mr. Speaker, I rise today to express my deep outrage 
over AIG using $165 million in government funding to pay top executive 
bonuses.
  The company, for all intents and purposes, is bankrupt and has been 
bailed out by taxpayer dollars, and the fact that these bonuses could 
have gone forward simply defies logic.
  Mr. Speaker, I would like to commend Chairman Frank and Chairman 
Kanjorski for presiding over today's hearing on AIG and for their 
continued oversight to make sure that taxpayer funds are being used 
responsibly to get our economy back on track.
  While I was pleased to hear that Edward Liddy said that he would try 
to recoup the bonuses from his employees, I remain furious at how and 
why AIG chose to reward complete incompetence with taxpayer money. AIG 
executives must be held more accountable for their decision and may 
need to pay for mismanagement with their jobs. That is why I joined 
over 90 of my colleagues in sending a letter to Secretary Geithner 
demanding a full accounting of the use of taxpayer money at AIG and to 
block these bonuses and why I support legislation to ensure that 
taxpayers receive a full refund.
  At this time of great uncertainty and instability in our Nation, the 
public deserves more from AIG and from us, their elected officials, who 
are entrusted to make responsible decisions on their behalf.

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