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VPR: "Welch: Goldman Sachs should repay taxpayers"

October 28, 2009
In The News

Vermont Public Radio staff report

Vermont's lone congressman says Goldman Sachs should repay taxpayers the $12.9 billion it received through American International Group before it awards bonuses to employees this year.

Democrat Peter Welch issued that call Wednesday at a congressional hearing on executive compensation being paid to companies that benefited from the Troubled Asset Relief Program.

Welch says he's indignant that Goldman Sachs may end up using taxpayer money to subsidize $23 billion in bonuses to executives.

He says $12.9 billion should be returned to taxpayers before those bonuses are rewarded.