Brown Statement On AIG Plan To Use $500 Million In Taxpayer Funds For Employee Retention
November 14, 2008
WASHINGTON, DC—U.S. Senator Sherrod Brown, a member of the Senate Banking Committee, issued the following statement today in response to American International Group’s (AIG) reported plan to offer more than $500 million to executives and other employees as part of a firm-wide retention plan:
“American taxpayers must not foot the bill for fattened AIG paychecks. It is outrageous that AIG would even consider inflating executive salaries. AIG has received more than $152 billion in taxpayer funds while 10 million Americans stand on unemployment lines. This decision is a slap in the face to the millions of middle class families whose tax dollars AIG is borrowing. Company executives should be ashamed of themselves. This action should be immediately rebuffed by the Treasury Department and reversed by AIG.”
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