As we mentioned last night, the public outrage at the AIG bonuses is reaching a fever pitch.
Jake Tapper reports that Iowa Senator Chuck Grassley, in an interview with Cedar Rapids, Iowa, radio station today said executives of AIG should consider following what he described is the Japanese model of shamed corporate executives: apology or suicide. Grassley is the ranking Republican on the Senate Finance Committee. There’s a lot more here than in last night’s report.
“I don’t know whether the ($165 million in bonuses) is an issue as much as just the chutzpah of the people running AIG,” Grassley said. “That they could thumb their nose at the taxpayers, it’s more that.
“The attitude of these corporate executives and bank executives, and most of them are in New York, that somehow they’re not responsible for their company going into the tank,” he said.
“I suggest, you know, obviously maybe they ought to be removed, but I would suggest that the first thing that would make me feel a little bit better towards them [is] if they would follow the Japanese example and come before the American people and take that deep bow and say I’m sorry and then either do one of two things: resign or go commit suicide.”
Grassley added, “In the case of the Japanese, they usually commit suicide before they make any apology.”