(Host) Senator Bernie Sanders calls bonuses paid to executives at American International Group “outrageous.”
Sanders reacted to news over the weekend that AIG paid $165 million in bonuses to its staff – at the same time it was taking taxpayer bailout money.
(Sanders) “The idea that somebody in the midst of this crisis when the country is teetering on the edge of a depression, that they can’t do their job, they can’t be motivated, unless they receive millions of dollars in bonuses is incomprehensible to me.”
(Host) Sanders has long been critical of the financial industry. He says the latest news with AIG proves to him the need to reorganize American finances.
(Sanders) “I think the time is long overdue for a clean sweep of all of these CEOs who have helped cause this crisis. We need some people who are running these companies who maybe are concerned about the needs of our country, rather than their own personal wealth.”
(Host) A number of lawmakers in Washington have proposed restructuring the AIG bailout so the company can no longer pay bonuses.
The company says it had signed contracts with employees and owed them the money.