SEIU - Service Employees International Union, CTW, CLC

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3:00 PM Eastern - January 28, 2010

Tell the Bankers: We Want the Straight Story

Apparently $150 billion just isn't enough for Wall Street bankers.

Today, the Wall Street Journal is reporting that big banks are breaking their own rules, easing pay restrictions and offering "forgivable loans" to bankers who need a little extra cash. This news comes just two weeks from when the bank CEOs sat on Capitol Hill and said - under oath - that they had placed new, tough restrictions on executive compensation.

This is the same greedy behavior that got us into the financial crisis and it has to stop. Click here to demand an investigation into the banks' bonus bonanza: http://action.seiu.org/thestraightstory

Demand the whole truth
A few weeks ago, in front of the newly-formed Financial Crisis Inquiry Commission (FCIC), the banks assured taxpayers that they'd written tough new rules for executive pay. But this week, it appears that banks have been adding the fine print: Bank of America is letting employees cash in on their stock holdings after just a few weeks instead of years, and Citigroup is offering some employees loans they may never have to pay back.

These same banks are kicking families out of their homes because they can't afford their mortgages, but they're offering their own executives loans they don't have to pay back? The American people deserve to know what's going on: http://action.seiu.org/thestraightstory.

The President created the FCIC to uncover the roots of the financial crisis and make sure we put safeguards in place to keep it from happening again. When the bank CEOs stood in front of that Commission this month, they swore to tell "the truth, the whole truth, and nothing but the truth."

But today's article paints a different picture about the pay being doled out on Wall Street. Tell the FCIC we need the rest of the story from the big banks.

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SEIU

Service Employees International Union
Change to Win Federation USA
Canadian Labour Congress
1800 Massachusetts Avenue NW
Washington, DC 20036
© SEIU | Privacy Policy

SEIU

Service Employees International Union
Change to Win Federation USA | Canadian Labour Congress
1800 Massachusetts Avenue NW, Washington, DC 20036
© SEIU | Privacy Policy