Congressman Mario Diaz-Balart

Representing the 25th District of FLORIDA

Wrath of TARP Taking America by Storm: AIG Continues to Abuse Power, Act on Greed

Mar 17, 2009
Press Release

WASHINGTON, DC-Today Congressman Mario Diaz-Balart (R-FL) made the following statement regarding the reckless behavior of AIG executives and some in Congress. 

“Americans are only beginning to feel the wrath of TARP and its effects should come as no surprise.   Speaker Pelosi, Congressman Frank and Senator Dodd wrote a blank check to bailout an industry crumbling because of corruption and greed, and they have sat back and let that industry continue to abuse its power.   
“The actions of AIG are what happen when legislation is passed irresponsibly, recklessly and without allowing for debate.  Americans are outraged and with reason.  This is an insult to taxpayers and an embarrassment to those who recklessly allowed this bill to pass the House.

“There is no for excuse to rewarding bad behavior.  AIG got itself into a financial mess because of the corruption, greed and recklessness of its executives, now benefitting from hefty bonuses.  American families are facing unprecedented economic hardships, people are loosing their jobs and small businesses are barely getting by.  Taxpayers should not have to foot the bill of corruption and greed on Wall Street. 

“The Administration and Congress need to get serious and hold AIG and others accountable for their actions.  Not a penny more should be given to bailout these companies without accountability in place,” said Diaz-Balart.