Time to Tell Congress: "No More Dough Till We Know Where It Goes"
Jane Hamsher over at FireDogLake has a petition up about the AIG bonus debacle, and is trying to get 20,000 signatures on it by Wednesday night. Here's the link:
http://action.firedoglake.com/page/s/Transparency
Talking points are below the jump:
Straight from Jane's site:
- Yesterday AIG paid $165 million of the $450 million it will pay this year in "retention bonuses" to executives in its Financial Services Group, the out-of-control derivatives trading arm that looted the company, destroyed its stock and contracted for huge bonuses even after they saw the risk of collapse.
- The $450 million was just a portion of the $1.2 billion AIG will pay out in bonuses across the board within a company that lost $100 billion last year.
- Rep. Barney Frank, chairman of the House Financial Services Committee, wants to try and recover these bonuses.
- American taxpayers now own $80% of AIG after paying $173 billion to keep it afloat.
- Larry Summers says the government simply can't break the contracts that AIG had with executives, even as the Treasury is forcing auto companies to break their labor contracts as a condition of receiving TARP funds.
- Meanwhile, 21% of Americans are struggling to pay for the health care, and going without treatments they need.
Tuesday, March 17, 2009 at 10:13PM