As a registered voter and one of the millions of people who elect others to represent me in Washington D.C., I often email my reps to express my opinions on various bills/issues. Because I've done this I also get updates from time to time. I got the email today. I couldn't help it...I sent off a speedy response (posted below):
Dear Mrs. Beery:
I thought you might be interested in the speech I gave in the Senate yesterday regarding the outrageous bonuses given to executives at American International Group (AIG).As has been widely reported, AIG chose to dole out sizeable performance and retention bonuses last week to executives of the very financial services division that was responsible for creating many of the exotic securities that brought the company to its knees.
This tone-deaf decision represents not only an egregious misuse of taxpayer funds, but highlights just one of the many double standards that have been applied to companies receiving federal assistance.
It was only four months ago that our nation’s struggling domestic auto-makers asked for government loans that amount to a small fraction of the money we have given to Wall Street. Hardworking Americans, who put in an honest day’s work building automobiles, were summarily criticized for making a living wage as executives at financial services companies receiving billions of taxpayer dollars rewarded themselves with obscene bonuses.
Unlike the autoworkers, A.I.G.’s executives didn’t step up to the plate. I felt compelled to highlight this shameful double standard when I spoke yesterday on the floor of the United States Senate.You can view my full statement by clicking on the following link: [http://www.levin.senate.gov/newsroom/release.cfm?id=310035]
Thank you for the notice about your opposition to the AIG bonuses. However, I wonder if you read the stimulus bill before you signed it. Sen. Dodd ADMITS that he wrote in a loop hole ALLOWING the execs at AIG to get bonuses.
It leaves me to believe one of two things:
1 - you didn't read the bill and are now trying to cover your butt
2 - you DID read the bill and are now being called on the carpet by the same people who didn't want you to sign the bill in the first place.
Your attempt to destroy consumer confidence in businesses is noted, but so is your irresponsible voting and bill-making.