The House GOP Anti-AIG Resolution « The Washington Independent
The details of H.R. 251 are here, from co-sponsor Rep. Leonard Lance (R-N.J.):
• Direct Treasury to implement a plan to recoup within the next two weeks the payment of AIG bonuses.
• Require any future bonus payments, of any kind, to Troubled Assets Relief Program (TARP) recipients, to be approved in advance by Treasury.
• Any future contractual obligations entered into by TARP fund recipients to make bonus payments of any kind must be approved in advance by Treasury.
From the bill:
- Resolved,* That the House of Representatives directs the Secretary of the Treasury to transmit to the House of Representatives, not later than 14 days after the date of the adoption of this resolution, copies of any portions of all Department of the Treasury documents, records, and communications referring or relating to–
(1) any negotiation concerning the controlled break-up of the American International Group, Inc. into at least 3 Government-controlled divisions;
(2) any negotiation concerning any additional assistance under title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.) or other program administered by the Secretary to such corporation; or
(3) any Government communication or authorization for payment of any pre-existing bonus contract with any executive of the American International Group, Inc.
There are 25 total sponsors.