[Congressional Record (Bound Edition), Volume 159 (2013), Part 1]
[House]
[Page 989]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 EXCESSIVE PAY AT BAILED-OUT COMPANIES

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute.)
  Ms. KAPTUR. Mr. Speaker, I rise today to call attention to a report 
by the Special Inspector General for the Troubled Asset Relief Program, 
or SIGTARP, about compensation at bailed-out companies, bailed-out Wall 
Street companies, their excessive compensation.
  The report shows that the U.S. Treasury Department approved wildly 
inappropriate pay packages of $3 million or more for over half of the 
top 25 employees at certain bailed-out Wall Street banks.
  Executive compensation at AIG is particularly disturbing, given that 
the Federal Government financed a $182.3 billion bailout of that 
company. In 2012, AIG's top CEO was paid $10.5 million, and all but one 
of AIG's top 25 employees received compensation of more than $2 
million. That one AIG executive who was paid less than $2 million 
received $700,000 in total compensation, which is well over 1,000 times 
more than the average American household earns in a year.
  Mr. Speaker, isn't it time for Wall Street and the Treasury 
Department to wake up and stop abusing the assistance they received 
from the taxpayer, and isn't it time for the Department of Justice to 
prosecute?

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