[Congressional Record (Bound Edition), Volume 155 (2009), Part 2]
[House]
[Pages 2632-2633]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          STOP BAILOUT BONUSES

  (Mr. SAM JOHNSON of Texas asked and was given permission to address 
the House for 1 minute.)
  Mr. SAM JOHNSON of Texas. Madam Speaker, last week Americans learned 
of 50,000 new layoffs in just one day. We also heard another startling 
fact: that the financial industry bailed out by Uncle Sam paid $18 
billion in bonuses. That's just appalling.
  The $18 billion payout in 2008 ranks as the sixth highest in bonus 
history and compares with 2004, a banner year, on Wall Street.
  As a supporter of free enterprise, I back performance-based bonuses 
for a job well done.

[[Page 2633]]

  Banks just barely getting by, thanks to taxpayer bailout money, have 
no business paying bonuses. With our economy sliding deeper into 
recession, this reckless decision to pay bonuses showcases the 
disgraceful behavior of greed and arrogance of Wall Street that 
Americans detest. It is flat irresponsible.
  Let's stop the bailout bonus bonanza now.

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