Times-Tribune Reporter BORYS KRAWCZENIUK highlighted a report that the National Republican Congressional Committee(NRCC) accused Paul Kanjorski and Chris Carney of [either failing to read the bill or knowingly supporting “a bill that would hand out millions in taxpayer-funded bonuses to Wall Street executives.”]
As usual, Paul Kanjorski has been posturing(pandering) to the public that he is their champion in looking out for their interests. Paul, when are you going to return AIG's donations?
U.S. Rep. Paul E. Kanjorski labeled as “troubling” the $165 million in bonuses paid over the weekend to current and former executives of American International Group as he led the hearing into the ailing insurance giant Wednesday.
“Something is seriously out of whack, and AIG needs to fix it now,” Mr. Kanjorski, D-11, Nanticoke, said in remarks at the hearing of the House Capital Markets, Insurance and Government-Sponsored Enterprises Subcommittee, which he heads.
As it turns out, the stimulus bill included language inserted by Sen. Chris Dodd of Connecticut that exempts bonuses in employee contracts in place before Feb. 11 from the bill’s prohibitions on bonuses paid with Wall Street bailout money. President Barack Obama signed the bill into law Feb. 17. Mr. Dodd said he inserted the language at the White House’s request, but had no indication it was AIG-related.
The facts bear out that the TARP bill was put through Congress in a hurry. Paul Kanjorski was part of that process, and now he wants to cry about the horse roaming free when the barn door was left open by his vote. It has been known for months by Kanjorski and the Obama administration that there were bonuses to be paid. At the time the TARP bill was passed bonuses were discussed.
Paul, you were right. “Something is seriously out of whack."
To see how much was actually paid out by most of the firms click here. Forget the $165 million read this headline "Banksters used $85 billion of $140 billion taxpayer TARP money for bonuses in 2008".
The American public is just waking up to the egregious acts of the bonuses. Here is an article that appeared in the Pittsburh Tribune-Review back in November on the subject. "Bailout execs get bonus billions" Paul, do you read the newspaper??
Since it is not election time Kanjorski doesn't have the D-TripleC to run to his defense with their out and out lies.