“This decision by AIG is offensive to the American taxpayer and at odds with the free-market principles they claim to support. I opposed the bailout for these banks as bad policy and I oppose these bonuses as bad morality. I am outraged that middle-class taxpayers who have worked hard and played by the rules are watching their retirement savings and home values shrink, while those who caused our economic pain continue to prosper."Update: Jim White has a video of Rep. Perriello and other congressional representatives standing together to block the AIG bonuses.“AIG hides behind claims of contractual obligations, but the car companies who received bailout funds found a way to cut wages to line workers. Why is it okay for companies to force cuts on workers but not scale back million dollar bonuses for the executives who knowingly caused us this mess?”
Tuesday, March 17, 2009
Quote of the Day (updated)
Rep. Perriello on the AIG bonuses:
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2 comments:
I'm with Tom on these fronts completely. I hate the bailout that was so popular before we found out (again) we can't trust the people in charge. And I am outraged that a company on its can would even consider bonuses for any employees -- especially those who drove the company into the ditch it's in.
I've worked public work my whole life and I thought a company had to actually make money to give bonuses. I've been in the wrong business.
Go Tom Go. Paying a bonus to those that brought a business down into the pit, is crazy. Normally we fire the unproductive and give bonuses to those that make large profits.
Thank God for Tom Perriello who is standing up to the crazies.
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