Wednesday, March 18, 2009

Did Kissell Knowingly Back AIG Bonus Package?

Question for Larry Kissell: Did He Ever Actually Read the Bill or Did He Knowingly Support a Bill That Would Hand out Millions in Taxpayer-Funded Bonuses to Wall Street Executives?

NRCC Press Release
March 18, 2009

Washington- American International Group (AIG) Chairman and CEO Edward Liddy is testifying before Congress today about the $165 million in bonuses paid to top AIG executives. Now, Rep. Larry Kissell (D-NC) – who helped pass the “AIG stimulus” bill that allowed AIG executives to receive these bonuses – needs to answer some very serious questions. Kissell needs to explain to his constituents what he knew, when he knew it and if he helped to keep AIG bonus information quiet. Larry Kissell either blindly followed his party leadership and voted for a trillion dollar bill he never read, or he knowingly backed a bill that would hand out millions of taxpayer dollars to Wall Street executives in the form of bonuses.

The facts are crystal clear: Democrats, including Larry Kissell, voted for this “AIG stimulus” bill, which was negotiated behind closed doors in the middle of the night and allowed for taxpayer-funded bonuses to go to AIG executives:
“…The rules in the stimulus bill apply not only to companies that receive bailout funds in the future, but also to those that have received TARP money in the past – although executive bonuses doled out in contracts signed before February 11 would not be impacted.” (Carol E. Lee, “Dodd banker pay cap one-ups Obama,” Politico, 2/14/09)

“It seems that Larry Kissell and Wall Street executives will never learn that ‘business as usual’ is no longer tolerated by American taxpayers,” said NRCC Communications Director Ken Spain. “The question is simple: Did Larry Kissell ever actually read the bill or did he knowingly support a bill that would hand out millions in taxpayer-funded bonuses to Wall Street executives?”