[Congressional Record (Bound Edition), Volume 155 (2009), Part 6]
[Senate]
[Page 7379]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              AIG BONUSES

  Mr. McCONNELL. Madam President, over the weekend we learned the 
extent of the bonuses being paid to some of the same people at AIG who 
got this company in the position it is in. Many of us on both sides of 
the aisle expressed absolute outrage that these bonuses could be paid. 
Yesterday, the White House joined that chorus and promised to do 
everything possible to get the taxpayers' money back. Well, we 
certainly appreciate those efforts. However, it could have been handled 
a little differently. It would have been better if this pledge had 
included action 2 weeks ago. Just 2 weeks ago, the Treasury agreed to 
give AIG another $30 billion in taxpayer money--just within the last 2 
weeks. For example, wouldn't the Treasury and the taxpayer have had 
more leverage over AIG's executive contracts before providing another 
$30 billion in tax money for them? Once that money was handed over to 
AIG, the leverage was lost. That would have been the perfect time to 
make sure this didn't happen.
  It is my hope the Treasury will be vigilant in safeguarding taxpayer 
funds from here on. I certainly expect them to look for every possible 
legal way to live up to the pledge made yesterday on behalf of the 
taxpayers of the United States.

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