Friday, March 23 , 2018, 12:26 am | Mostly Cloudy 54º


Rep. Lois Capps: Reported AIG Bonuses Are ‘Deeply Disturbing’

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.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click here to get started >

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >