Loebsck reacts to AIG bonuses - KWWL - Eastern Iowa Breaking News, Weather, Closings

Loebsck reacts to AIG bonuses

Congressman Dave Loebsack issued the following statement on news reports that the American International Group, which received over $170 billion in taxpayer dollars, will give out more than $165 million in bonuses to its executives.

"While hardworking Iowans in the Second District are facing an ongoing economic crisis in the wake of last summer's devastating floods, its unconscionable that AIG, which is receiving more than $170 billion in government assistance, would permit these extravagant bonuses.

"As I work with my colleagues to bring more funds into Iowa to repair our roads, rebuild our schools, and reopen our businesses, I cannot condone AIG's actions and reckless behavior with taxpayer money. These funds should be creating jobs and rebuilding homes, not padding the pockets of corporate executives.

"I will look for ways to recoup these funds as I work with my colleagues to put into place responsibility measures to protect taxpayers. I renew my ongoing commitment to ensuring transparency and accountability and will continue to fight so that the voices of the Second District are heard."

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