Dreier Seeks Accountability from Treasury on AIG Bonuses

March 18, 2009

WASHINGTON, DC - Congressman David Dreier (R-San Dimas), Rules Committee Ranking Republican, is co-sponsoring a resolution of inquiry directing the Treasury Department to provide to Congress all relevant information regarding the pre-existing contracts that led to the payment of millions of dollars in bonuses for AIG executives, just days after Treasury released tens of billions of dollars in new taxpayer aid to the company. Congressman Dreier is urging the House to consider the resolution without delay. If passed, the Treasury Department would have fourteen days to respond.

“It is absolutely unacceptable for any company to act irresponsibly with taxpayer funding, especially during these challenging economic times,” Dreier said. “The latest developments regarding AIG and the bonuses being paid at taxpayer expense is yet more evidence that there has not been adequate oversight of these funds. For months now, we have been seeking transparency and accountability for the American people on where these bailout funds were being spent. Unfortunately we have just gotten more questions than answers. My colleagues and I will continue to demand the Administration come forward with answers for the American people, and that real oversight measures be put into place.”

Congressman Dreier is an original co-sponsor of H.Res. 251, which directs the Secretary of the Treasury to transmit to the House of Representatives all information in his possession relating to specific communications with American International Group, Inc. (AIG).

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