Yesterday news broke that AIG—the bailed-out insurance giant—will give out another $100 million in bonuses.1 Seriously?
These are the people who wrecked our economy. And AIG still owes taxpayers $182 billion.
Their priority should be paying us back—not giving out obscene bonuses.
But unless Congress acts—by blocking bonuses at bailed-out banks or imposing heavy taxes on them—they'll keep wasting our money. Can you sign our petition telling them that serious action to rein in bonuses is long overdue? Clicking below will add your name.
The petition says: "Bailed-out companies shouldn't be allowed to waste money on bonuses until they've paid back their debt in full."
Bankers in other countries have already gotten the message that their behavior is unacceptable. England and France have imposed heavy surtaxes on outrageous banker bonuses.2
But the banks still hold enormous power in Washington—as Sen. Dick Durbin put it, "They frankly own the place."3 And they're using all of their lobbying clout to oppose any attempts to rein in their bonuses.4
So despite the huge outcry over the last round of AIG bonuses, Congress still hasn't done anything to stop Wall Street from giving out huge bonuses. AIG's bonus plan is unacceptable. Clicking below will add your name to the petition letting Congress know they need to do something to stop it.
Thanks for all you do.
–Daniel, Carrie, Kat, Wes, and the rest of the team
1. "AIG plans to pay $100 million in another round of bonuses," The Washington Post, February 3, 2010
2. "France joins UK to target traders in bonus tax move," Reuters, December 16, 2009 3. "Dick Durbin: Banks 'Frankly Own The Place'," The Huffington Post, April 29, 2009 4."Wall Street's fingerprints evident on financial reform bill," The Christian Science Monitor, December 22, 2009
2. "France joins UK to target traders in bonus tax move," Reuters, December 16, 2009
3. "Dick Durbin: Banks 'Frankly Own The Place'," The Huffington Post, April 29, 2009
4."Wall Street's fingerprints evident on financial reform bill," The Christian Science Monitor, December 22, 2009
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