McHenry criticizes AIG bonuses
WASHINGTON, D.C.
U.S. Rep. Patrick McHenry (N.C. Congressional District 10) released the following statement regarding his vote against H.R. 1586.
“This is shameless Washington hypocrisy at its worst. President Obama and the Democrats were for AIG bonuses before they were against them. The administration and their Democrat allies stripped an amendment from the stimulus bill that would have prevented these bonuses.
“With Republicans and the public expressing outrage at their actions, the Democrats are now scrambling for political cover. They will find no such cover because their knee-jerk legislation allows AIG executives to keep a portion of their taxpayer-funded bonuses.
On March 18, the Democrats defeated Republican efforts to pass legislation that ordered the administration to recoup 100 percent of the bonuses and deny AIG any further federal assistance until every penny is repaid to taxpayers.
“This whole episode is precisely why I voted against the taxpayer-funded bailouts of financial institutions. The blame for these bonuses rests solely with the Bush and Obama administrations and those who march in lock step with their irresponsible policies.”
