February 9, 2010

McCaskill rants over executives' bonuses after bailouts

by KY3 News and NBC News

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By Gene Hartley

Story Published: Jan 30, 2009 at 3:36 PM CST

Story Updated: Jan 30, 2009 at 4:08 PM CST

WASHINGTON, D.C. -- Sen. Claire McCaskill, D-Missouri, is outraged by reports that some $18 billion in bonuses were paid to corporate executives of companies on Wall Street after they received federal bailouts. McCaskill is so made that she introduced legislation that would cap executives' paychecks at $400,000 a year for companies getting bailout money.

McCaskill made her feelings known and told Senate colleagues that executives getting bailout money should not make more money than the president of the United States.

"We have a bunch of idiots on Wall Street that are kicking sand in the face of American taxpayers,” she said. “Going forward, you want taxpayers to help you survive, you want the people at your financial institution to have a job tomorrow? Then you're going to have to limit everyone's pay at your company to the same salary that the president of the United States makes.

"Once the taxpayers aren't footing the bill, then it's not as much our business what they get paid. But right now they are on the hook to us and they owe us something other than a fancy waste basket and a $50 million jet."

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