Democrats slam Bachmann for hypocrisy on monster AIG bonuses
Those poor AIG executives. So bailed out under Bush by taxpayers. So persecuted. Yet somehow, so much richer today: The company's going to slather them with $100 million in bonuses.
Last March, the Obama administration, and most members of Congress, expressed outrage that a similar package was paid out to the insurance monolith's executives because of contractual obligations. In frustration, Congress approved a tax on the bonuses.
Today, the Democratic Congressional Campaign Committee wasted no time in reminding Minnesota voters that Rep. Michele Bachmann -- a member of the House Financial Services Committee -- complained about those bailouts, yet voted against punishing AIG's for its tone-deafness.
"Bachmann voted to protect bonuses paid to AIG executives with American tax dollars," said Ryan Rudominer, the DCCC press secretary in a statement. "This morning, Americans heard that AIG executives are getting $100 million in bonuses despite still owing taxpayers more than $100 billion. While Representative Bachmann protects these outrageous Wall Street bonuses paid for by President Bush's bailout, Bachmann does nothing to help hardworking families. Clearly, Representative Bachmann is more concerned about Wall Street, than Main Street."
If that line of attack sounds familiar, it's because DFLer Taryll Clark has been using the same language in her campaign to unseat Bachmann this November:
"Small business owners see Wall Street bankers getting big bonuses while they can't even get a loan to expand their business and create jobs. Families are praying that their jobs, or their health care, will still be there when they wake up each morning. Seniors and veterans and families are struggling to make their monthly mortgage payments to keep their house, in the midst of the worst foreclosure crisis since the Depression."
She'll doubtless get some ammunition for that fight from FEC records, which show that the Insurance sector alone pitched in $119,050 to Bachmann's campaign coffers ahead of the 2008 election cycle.