HOUSE Republican Leader John Boehner

Washington, Mar 16 - Following the news that AIG has awarded executive bonuses totaling $165 million, House Republican Leader John Boehner (R-OH) released the following statement renewing Republicans’ call for a government bailout “exit strategy”:

“For months, Republicans have repeatedly asked both the Bush and Obama administrations a very important question: what is the government’s exit strategy from this sweeping involvement in private business?  We have done so because taxpayers are not receiving an adequate accounting from either the Treasury or the management of the companies that received taxpayer funds.  Unfortunately, we have not yet seen such a plan.  The latest revelation about AIG executives receiving millions in bonuses while taxpayers continue to bail out the company with hundreds of billions of dollars is outrageous and the clearest example yet of why an exit strategy is essential.  The Administration should pursue all means of recovering these bonus payments and present Congress – and, more importantly, taxpayers – an exit plan as soon as possible.”

NOTE:  House GOP leaders wrote to Treasury Secretary Timothy Geithner last month, urging him to present an exit strategy.  The leaders sent a similar letter to former Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke late last year.

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