Press Releases
Luetkemeyer Backs Bill to Reveal Sources of Taxpayer-Financed AIG Money
Washington, DC,
March 19, 2009
Seeking answers for taxpayers about how $165 million worth of their money was used to pay bonuses to AIG executives, Congressman Blaine Luetkemeyer (MO-9) has backed legislation that will force Treasury Secretary Tim Geithner to provide all information regarding the use of the bailout money.
Seeking answers for taxpayers about how $165 million worth of their money was used to pay bonuses to AIG executives, Congressman Blaine Luetkemeyer (MO-9) has backed legislation that will force Treasury Secretary Tim Geithner to provide all information regarding the use of the bailout money. The legislation would require Geithner to provide all documents, records and communications regarding American International Group within 14 days of the bill’s adoption. Specifically, the bill demands the following information be made public: negotiations concerning the controlled break-up of AIG into at least three government-controlled divisions; negotiations concerning the need for an additional $30 billion from the Troubled Asset Relief Program funds; and government communications and authorizations for payment of pre-existing bonus contracts with AIG executives. “The taxpayers of Missouri and this country deserve to know exactly how their hard-earned dollars ended up subsidizing multi-million dollar bonuses for AIG executives, and I find it personally frustrating that Secretary Geithner gave his blessing to AIG and is now hiding behind the skirts of contract law,” Luetkemeyer said. “There’s too much secrecy and folks in Missouri and across the country deserve to know all the facts when taxpayers control 80 percent of AIG.”
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