Rep. Lois Capps, D-Santa Barbara, on Monday released a statement on bonuses paid to executives of AIG, which to date has received more than $170 billion in taxpayer funds as part the American Recovery and Reinvestment Act. According to news reports, AIG executives received $165 million in bonuses as part of a larger total payout of a reported $450 million.

“The news that AIG intends to reward its executives with a reported $165 million in bonuses is deeply disturbing. This is after AIG reported earlier this month that it lost $61.7 billion in the fourth quarter of last year, the largest corporate loss in history. I am disgusted by AIG’s apparent violation of the public trust and poor judgment. I am pleased that President Obama’s administration is exploring all available legal options to prevent the payment of these bonuses when AIG is surviving solely because of government aid. I am also pleased that the House Financial Services Committee is holding a subcommittee hearing this week on AIG. I will continue to work with my colleagues on Capitol Hill and with the Obama administration to do what is necessary to ensure that taxpayer dollars are spent wisely.”

— Emily Kryder is communications director for Rep. Lois Capps, D-Santa Barbara.