Phony outrage

In press release below, Tiahrt pushes GOP talking points for the day and blames AIG bonuses on Democrats for passing a bill that had no cap on existing pay contracts for heads of businesses receiving bailout money. But had there been no bill there would be no cap on existing contracts NOR future contracts/compensation (which the bill does cap) Tiahrt and the GOPers voted AGAINST the stimulus bill, which in Tiahrt's logic means they are for unchecked, lavish executive pay to businesses getting taxpayer bailout money.

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Here's the release

Tiahrt: Democrat’s $165 Million AIG Executive Bonus Scandal an Outrage
Votes to recover 100 percent of AIG bonus pay

WASHINGTON—U.S. Congressman Todd Tiahrt (R-Goddard) today issued the following statement following votes in the House of Representatives responding to bonuses paid to AIG insurance company executives totaling $165 million. Tiahrt harshly criticized the Democrat’s legislative cover-up attempt today and highlighted how Democrat’s response to their scandal is to pass a 90-percent tax.

Last month Democrats inserted a provision into the so-called stimulus bill that allowed AIG to give its executives lavish bonuses. President Obama urged Congress to pass the bill quickly and signed it into law Feb. 17. This occurred after AIG had received $150 billion in taxpayer-funded bailouts.

"Americans are rightly outraged at the way the Obama Administration and Democrat leaders have allowed AIG to give its corporate executives $165 million in lavish bonuses this year," said Tiahrt. "After taxpayers took on enormous debt to bailout AIG with $150 billion, Democrat leaders and this Administration said it was fine for AIG executives to get millions in bonuses.

"Now that the million-dollar bonuses have been paid to AIG executives, Democrats are trying to pass a legislative cover-up. In February Democrats voted to allow the bonuses; today they voted to institute a 90-percent tax on the recipients of the bonuses. Instead of recovering 100 percent of the bonus pay like Republicans proposed, the Democrat’s response is to institute a 90-percent tax on the very same executives they permitted to receive the bonuses.

"This scandal involving Democrats, the Obama Administration and multi-million dollar AIG executive bonuses is an outrage. The American people deserve to know why this was permitted, who knew it was going to happen, and who did nothing to prevent it. Instead of passing a legislative cover-up, Democrats should embrace our plan to recover 100 percent of the AIG corporate executive bonus pay."

On Thursday Tiahrt voted in favor of a Republican proposal that would direct the Treasury Secretary to implement a plan within the next two weeks to recoup or stay 100 percent of the AIG bonuses and block any further federal assistance until the bonuses were paid back. The bill would also require approval by the Treasury for any future bonus payments, of any kind, made by TARP fund recipients (bailout recipients). Finally, the Republican’s plan requires that the Treasury approve in advance any future contractual obligations entered into by TARP fund recipients that involve bonus payments.