Victims' Rights Caucus

Speeches

BAILOUT BONUS BANDITS

Feb 03 2009

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Madam Speaker, more fallout continues from the bailout. Congress gave the people's money to AIG last year in the amount of $152 billion. AIG has decided to spend $400 million on bonuses for 400 executives. That sounds like about $1 million per executive to me.

But they aren't alone. The Wall Street fat cats demanded and received $350 billion in bailout money, and gave $18 billion to their big-shot executives. Do you know that those are the same executives that helped get us in this current economic mess? It looks like they are being rewarded for bad conduct.

But the real problem is the bonus money doesn't belong to AIG or the ``Wall Street Banking Boys Gang.'' It's one thing for a free market, private company to spend their money any way they choose. That's capitalism. But the free enterprise system was altered when those companies started demanding and taking taxpayers' money. Most normal citizens who are scraping to make ends meet, like the Joe Sixpacks in America, don't like the way the bailout bandits are spending and wasting their taxpayer money.

Madam Speaker, when Big Business gets in bed with Big Government, in the morning, the government mistress will tell Big Business how to spend the money.

And that's just the way it is.


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