State, federal reps rail against AIG bonuses

COLUMBUS — Outrage over big-money bonuses paid to executives of companies bailed out with tax dollars has spilled over into the Ohio Statehouse, with one lawmaker planning to introduce a resolution voicing his disgust.

“I am upset with what they’ve done and how they’ve abused the taxpayers on this whole issue,” said Rep. Bob Hagan, a Democrat from Youngstown. “Someone has to stand up ... and say this is wrong. They should give their bonuses back. And they should accept the fact that they ruined this company and ruined it to the point that now the taxpayers own 80 percent of it.”

Hagan announced plans Tuesday to offer a resolution condemning the American International Group, known by the acronym AIG, which received about $170 billion in federal bailout funding, then paid its executives $165 million in bonuses.

U.S. Rep. Tim Ryan of Niles, D=17th, has cosponsored similar legislation in the U.S. House

For more on this story, see Wednesday’s Vindicator or vindy.com