It's official: Wall Street is back to business as usual.
Today, Citi became the latest bank to announce that it's paying back $20 billion we gave them in TARP funds. Even though it's only a fraction of the $341 billion in bailouts they got from taxpayers, it's just enough to let them off the hook for increased accountability from Congress.
The timing of these announcements is no coincidence. This is the week that big banks are expected to unveil their pay and bonus packages for 2009. They're scrambling to wash their hands of their legal responsibility to the taxpayers so they can get back to paying themselves obscene amounts of money.
When you hear a number like $150 billion going into the pockets of the very bankers who crashed our economy, you can't help but think of all the better uses for that money. So, we decided to let taxpayers decide how the cash should be spent. Click here to spend your $1 million of the bankers' bonuses: http://seiu.org/bigbanks
In the next few weeks, taxpayers across the country will be holding actions at the big banks. While they announce their record bonus packages, we'll be there to show them your demands for how that money should be spend to get our economy moving again.