A day after suggesting AIG executives “follow the Japanese example” and “resign or go commit suicide,” U.S. Sen. Charles Grassley clarified his criticism.
“What I’m expressing here obviously is not that I want people to commit suicide. That’s not my notion,” Grassley said Tuesday. “But I do feel very strongly that we have not had statements of apology, statements of remorse, statements of contrition on the part of CEOs of manufacturing companies or banks or financial services or insurance companies that are asking for bailouts.”
Grassley made his “suicide” comment after learning AIG is distributing $165 million in executive bonuses after collecting $170 billion in bailout money from the federal government. Many AIG executives receiving bonuses helped run their company into the ground.
While Grassley made clear he doesn’t want AIG executives to kill themselves, he further criticized the insurance company for awarding large bonuses after taking billions of taxpayer dollars to keep the business solvent.
“From my standpoint, it’s irresponsible for corporations to give bonuses at this time when they’re sucking the tit of the taxpayer,” Grassley said.
Keep the criticism coming, Sen. Grassley. AIG deserves every bit of it. But feel free to spread it out among the other bailed-out businesses who refuse to make changes even though they needed taxpayer money to keep them out of bankruptcy.