The Uproar of AIG Bonuses

Congress says it's outraged about the $165 million in bonuses going to executives of American International Group (AIG) ["White House Calls Bonuses a Late Surprise; Congress Moves to Impose Hefty Tax on Executives Who Don't Return Money," front page, March 18].

However, such outrage is a distraction. AIG is also deeply entangled in the present housing meltdown. If Congress is truly outraged and wants to help the economy get back on track, it needs to move beyond addressing executive bonuses (however egregious) and strike hard at the foreclosure tsunami now crashing down upon America.

By passing the Helping Families Save Their Homes in Bankruptcy Act of 2009 (H.R. 200), Congress would provide a real solution to the current crisis and at no further expense to the taxpayer. That is the solution Americans are looking for, and Congress must provide it with the efficiency and focus that it is using to go after AIG.

CORA GANZGLASS

Legislative Director

National Association of Consumer Advocates

Washington

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