Mar 16 2009

Graham Statement on AIG Bonus Payments

WASHINGTON -- U.S. Senator Lindsey Graham (R-South Carolina) today made this statement in response to AIG paying bonuses to employees in its Financial Products (AIGFP) division. AIGFP was responsible for billions of dollars in losses involving credit default swaps and other derivatives.


“Like most Americans I am very upset these AIG employees are in line for multi-million dollar bonuses when the company has received almost $200 billion dollars in bailout money and the federal government now owns 80 percent of the company.


"This is a classic example of a company not understanding the public outcry against their way of doing business.


“We should do everything we can to protect taxpayer dollars – and start by looking at the possibility of undoing these bonuses which clearly have not been earned and are certainly not deserved."