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December 4th, 2009
Grijalva Says Goldman Sachs Should Use $13 Billion In Bailout Funds To Support Job Growth, Not Pay Executive Bonuses

Rep. Raúl M. Grijalva today said that Goldman Sachs, one of the nation’s largest investment banking firms, should immediately repay the $13 billion in public funds it received last year under the Troubled Assets Relief Program (TARP), and that the money should be used for job creation rather than as part of a recently announced $17 billion end-of-year bonus package for company executives. “This money came from the same taxpayers who are now struggling in a bad economy, and the last thing we should do with it is further reward people who contributed to the problem,” said Grijalva, co-chair of the 83-member Congressional Progressive Caucus. “There is no excuse for spending billions of hard-earned dollars on lavish corporate bonuses when ten percent of Americans are out of work, especially when the money in question could now be used to improve their situation.”

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