Shea-Porter: AIG Needs to Repay Taxpayers, Not Subsidize Lavish Bonuses

WASHINGTON, DC —  Today, Congresswoman Carol Shea-Porter called out AIG executives for continuing to use taxpayer dollars on extravagant bonuses.  Shea-Porter, who opposed both bank bailouts, supports legislation that will strictly limit executive compensation for companies that have received taxpayer funded bailouts.

It is outrageous that AIG continues to thumb its nose at the American people by paying more than $100 million in bonuses,” said Congresswoman Shea-Porter. “Without the American people’s tax dollars, AIG would not have been able to keep their doors open.  Congress must pass legislation to limit out-of-control executive compensation for companies who have been subsidized by the American people.” 

Shea-Porter has consistently called for Wall Street reform and recently helped pass the Wall Street Reform and Consumer Protection Act.  This bill ensures that there is increased oversight of large Wall Street financial institutions and creates a new consumer protection agency that will help ensure that big lenders do not offer harmful financial products to consumers.