Bipartisan Move In Congress To TAX BACK The AIG Bonuses!
Edward Liddy, American International Group Chief Executive Officer shed crocodile tears today and said that his hands were tied and he had to issue millions of taxpayer dollars to his staff because of the "cold realities of competition." NONSENSE! But what is this? Has public outrage advanced to the point that members of Congress have decided to finally conduct some bipartisan activity?
".... several Democrats and Republicans in Congress sought to force AIG to disclose details about the bonuses, and proposed taxing them so heavily that the recipients could wind up with nothing. Representative Barney Frank, the Democrat who chairs the House Financial Services Committee, said he intended to ask Liddy to name those who received bonuses. "If Mr. Liddy declines to give us the names, then I will convene the committee to vote a subpoena for the names," he said. "We do intend to use our power to get the names." Separately, three Republicans asked the Senate Banking Committee to subpoena for documents related to the bonuses.
The House hearing room was filled to capacity, with more than 80 people in the seats inside and dozens more waiting outside. The line to get in was already 40 deep more than an hour before the hearing began. Frank warned at the start that hecklers would be escorted out. The first portion of the hearing proceeded peacefully, but as lawmakers stepped out for a break, a handful of pink-clad protesters called after them."
Reuters
UPDATE:
Some AIG execs returning bonus money ....
MORE OF AN UPDATE!
Congress 'Taxes Back' Huge AIG Bonuses!
