No. (That answer came pretty easily to us!)

On Thursday, bailed out banks like Bank of America--which have not paid back their billions in taxpayer-funded bailouts--had to submit proposals for executive pay and bonuses to Obama's pay czar, Kenneth Feinberg. Feinberg said yesterday that he has broad and "binding" authority over executive compensation, including the ability to "claw back" money already paid...."I have the discretion, conferred upon by Congress, to attempt to recover compensation that has already been paid to executives not only in these companies, but in any company that received federal assistance," said Feinberg.

As Obama's pay czar is weighing how and whether to use that power, we're hoping he takes into account the laundry list of reasons why Bank of America CEO Ken Lewis and other top banking executives don't deserve bonuses this year. We've laid out our "Top Ten" here.

#1: Bank of America has received nearly $200 billion in taxpayer bailouts and backstops.
As long as Bank of America is reliant on billions of taxpayer bailout funds, they should not be allowed to pay out bonuses to top executives while millions of Americans continue to lose their homes, jobs, and retirement savings.

Read all ten (after the jump).

Can you sign our letter to CEO Ken Lewis demanding answers for bank employees? Click here to add your initials to our letter to CEO Ken Lewis.

It was widely reported this week that Bank of America is seriously considering the elimination of up to 10% of the bank's branches, with CEO Ken Lewis discussing the proposal with investors. If those reports are true, that means the jobs of up to 5,000 bank employees at hundreds of Bank of America branches are at risk.

If you are a Bank of America employee, we need you to add your initials to our letter to Ken Lewis.

"It is absurd that no matter what happens in the economy these guys figure out a way to award themselves with enormous bonuses and there seems to be no problem with laying off workers," said SEIU's Stephen Lerner. "On the one hand the government is trying to stimulate the economy by pumping money into banks. But everything these banks are doing exacerbates the problem that they are supposed to be solving."

Bank of America employees need answers to questions about these drastic closure plans--at the very least, information about how they could be affected by branch closings. "There has been no communication with workers, as far as we have talked to, about what is happening, what their rights will be, if they get severance pay, if there will be buyouts, if their health care will be continued...And most importantly, there has been no discussion if they will take the money they pay in bonuses and move it to help their workers survive unemployment," said Lerner.

So, we decided to do BofA a solid by writing a letter to CEO Ken Lewis with several questions he should answer for his employees. Here's part of the letter to Lewis:

A spokesperson described this proposal as part of the "long-term direction of the company." But with families facing continued financial uncertainty, we believe this is the wrong time to eliminate the jobs of 5,000 workers and leave millions of our customers without the financial advice they need to get through this crisis.

We deserve answers to the following questions on your closure plans and the "long-term direction of the company."

  1. How many current Bank of America employees' jobs will be eliminated?
  2. Will laid off bank employees receive any severance pay?
  3. Will you give bank employees a say in how you close branches?
  4. Will you and other bank executives continue to accept bonuses after laying off thousands of workers?

If you want answers to these questions, we need your support for our letter to CEO Ken Lewis--click here to add your initials to our letter.

As the backbone of Bank of America, frontline bank workers helped drive the growth of the company for low wages, while executives took home huge paychecks and bonuses. Take CEO Ken Lewis, for example: while the bank crashed, he made $6,019 an hour. In the last three months alone, Bank of America made more than $3 billion in profits. And according to a newly-released report by NY Attorney General Andrew Cuomo, BofA also issued $3.33 billion in cash and stock bonuses to executives last year. Merrill Lynch, which merged with BofA in January, issued $3.6 billion in bonuses despite having losses of more than $27 billion. This means that combined, the banks had 860 employees who were each given bonuses worth at least $1 million.

But that's not all....Bank of America has spent an additional $1.5 million in lobbying fees since January 2009. Does that sound right to you?

Even though taxpayers are backing Bank of America with $199.2 billion, it's the front-line bank workers who are going to hurt the most. But you can do something about it. Sign our letter to Lewis and demand answers about bank branch closures.

Ahead of Bank of America CEO Ken Lewis' testimony before the House Committee on Oversight and Government Reform, we put together the top ten questions that employees, consumers, taxpayers and shareholders would like reporters and legislators to ask Ken Lewis.

"SEIU hopes members of the Committee are as tough on Ken Lewis as we would be if we could get him under oath and the bright lights," said SEIU Secretary-Treasurer Anna Burger.

Here are the top 10 questions to ask Bank of America CEO Ken Lewis:

1. How can you commit to pay for former Countrywide CEO Angelo Mozilo's legal defense--"a million a month" according to Bloomberg--while Bank of America announced layoffs for 35,000 employees and refuses cost-of-living raises for its lowest-wage workers?


2. Why do you nickel and dime your lowest paid workers (tellers earn $10.50/hour without access to affordable health insurance) at the same time you shower lavish perks and deals for executives and traders?


3. As Bank of America employees speak out about unpaid overtime and a predatory sales culture, what do you plan to do to improve employment practices?


4. 4. Given dismal economic performance, low-staff morale, and a core business model of pushing debt on consumers, what has Bank of America done to meet its stated goal of being "the world's most admired company?"


5. After reportedly receiving tax breaks, and more than $195 billion in bailouts, government guarantees, and taxpayer-funded healthcare for its workers, what is Bank of America's plan to reduce its dependence on the U.S. taxpayer?


6. After being bailed out by hard-working taxpayers facing the toughest economic times since the Great Depression, do you think it's right for Bank of America to lobby against laws that would helps working families--like the Employee Free Choice Act, healthcare reform, and credit card reform?


7. As you argue against any laws that would create greater transparency in the industry, could you tell us what other calamities on your books you are hiding? First it was the Merrill Lynch deal--what's the next shoe to drop?


8. During your time as CEO, at what point did cutting costs and gouging customers with unnecessary products and skyrocketing fees become more important than customer satisfaction?


9. At a time when people are struggling, have you considered lowering banking and overdraft fees that are already higher than many other non-bailed-out banks?


10. Why do you create incentives for Bank of America employees to push further debt on customers?

"Ken Lewis was at the center of Bank of America's disastrous 'bigger at any cost' model of banking," said SEIU Secretary Treasurer Anna Burger. "Today, as Bank of America stock prices have dropped by more 90 percent and after the bank received access for up to $195 billion in taxpayer bailout funds, workers, consumers and taxpayers are footing the bill for Ken Lewis' failed gamble."

"Now, Bank of America workers have started speaking out and demanding change. Enough is enough. It's time for Bank of America and Ken Lewis to do what's right and spell out steps to become a partner for America's families instead of a toxic asset."

Tomorrow, Bank of America CEO Ken Lewis will face tough questioning in his testimony before the House Committee on Oversight and Government Reform at 10:00 a.m.

He'll be asked about his role in the acquisition of Merrill Lynch, the excessive bonuses paid to Merrill executives and the billions that taxpayers have provided to bail out the country from the deep losses and economic damage Bank of America's decisions caused. This will be Lewis' first trip to Capitol Hill since Bank of America failed the federal government's stress tests and a coalition led by SEIU delivered nearly 100,000 "Taxpayer Proxies" demanding that the Bank fire Ken Lewis.

Tomorrow, will Ken Lewis....

a) Apologize for his bank's role in bringing down the economy?
b) Commit to transparency and real financial reform?
c) Commit to ending consumer abuses like exorbitant overdraft fees, predatory financial practices, and the bank's irresponsible lending and acquisitions?
d) Commit to providing affordable healthcare for all employees?
e) Stop lobbying against solutions--such as banking reform and pro-worker legislation like the Employee Free Choice Act--that would give bank workers a voice on the job, protect consumers, end corporate excess, and finally build an economy that works for everyone?

We'll hopefully find out the answers to these questions after tomorrow's testimony. In the meantime, let us know your thoughts---do you think Ken Lewis will do the right thing in in his testimony and commit himself/Bank of America to being a partner (instead of a toxic asset) in rebuilding our economy?

If you're an employee of Bank of America, here's an opportunity for you.

The following email went to BofA employees who want to ask CEO Ken Lewis a question in Congress tomorrow:

If you're like us, you probably have a few questions to ask of Bank of America's CEO, Ken Lewis. Now, we have the chance to get them answered.

This Thursday, Ken Lewis will be in front of Congress to answer questions about Bank of America's business practices. As employees of Bank of America, you have a unique perspective of what's happening in the company.

So that's why we want your questions - submit what you'd ask, and we'll give them to Members of Congress to ask Ken Lewis.

Send us your questions for Lewis here: http://letstalkbanks.com/ask/

As the largest shareholders of the company, as taxpayers, and as customers and employees of the bank, it's important that Ken Lewis answers our concerns during the hearing.

There'll be no shortage of issues for the committee to discuss, and your questions won't be limited to just one topic. What do you want to ask Ken Lewis?

Submit your questions here: http://letstalkbanks.com/ask/

Tomorrow, after collecting your questions, we'll submit all of them to the committee for consideration.

Shouldn't we ask whether it's morally defensible for a top executive to accept tens of millions in pay while he is destroying the lives of his workers?

As janitors and community supporters continue their hunger strike outside of Cisco Systems corporate headquarters in San Jose, Mercury News columnist Mike Cassidy has written a thought-provoking column about the corporate strategy of treating layoffs as 'par-for-the-course' events that are the cost of doing business in this downtrodden economy.

Cassidy points to the disparity between the blasé attitude the tone of conversations surrounding layoffs have taken on and the real-life devastation that large-scale layoffs cause for people, families, and communities. (One example of this 'detached' attitude that springs to mind is Bank of America ex-chairman Ken Lewis, whose response when asked about the job cuts BofA delivered to nearly 35,000 of its employees in April showed little care for his employees.)

"I understand that at times, in the interest of survival or reinvention, companies must pare down or realign their work forces. I know that this is one of the worst economies since the Great Depression...

But that doesn't mean we can ignore the way massive job losses, including from profitable companies with extravagantly paid executives, are choking the life out of our economy and our communities. People who don't work don't buy things or keep current on their mortgages. Stores close. Homes go vacant. Neighborhoods and commercial districts shrivel up.

Cassidy also rightly points to the hypocrisy of corporate executives such as Cisco's multimillionaire CEO John Chambers, who appears to be one of many high-powered executives not reported to have considered making cuts to their high-dollar salaries and compensation packages a regular business practice in lean times.

The important principle these fasting janitors are sacrificing so much to make: a company that has $34 billion in cash assets and paid its CEO $18.8 million last year shouldn't just stand by while $12-an-hour workers are let go by the contractor Cisco hired to work on its campus. The question "what choice did we have?" from a chief executive in the face of shattering company layoffs shouldn't be rhetorical, says Cassidy. This question, he says, "should be put to business leaders by the press and politicians. We should all be talking about it. Isn't there another way?"

Justice for Cisco Janitors has estimated that it would cost just a month and half of Cisco CEO Chambers' salary, or a little more than $1 million, to bring back all of the 70+ laid-off janitors of SEIU Local 1877 to work for the rest of this year. Please stand with these janitors--who are currently in Day 6 of their hunger strike--as they demand justice for the janitors at Cisco Systems and stand up to all the corporations who are deaf to the kitchen-table concerns of middle class Americans.

Click here to send a letter to Cisco Chairman and CEO John Chambers or visit http://seiuaction.org/campaign/justiceatcisco

Here are some pictures from yesterday's rally in Palo Alto, CA near the Stanford University campus, as part of a national taxpayer day of action to demand a change of leadership at Bank of America.

A group of people, including members of SEIU Local 2007, went inside a BofA branch with a taxpayer proxy card to cast their votes for firing BofA CEO Ken Lewis, whose failed policies have wreaked havoc on the economy and put taxpayers on the hook for as much as $200 billion...so far.

Over 100 people turned out in Portland, Oregon today to demand taxpayer accountability at Bank of America. Members and staff of SEIU Locals 49 and 503 rallied in Pioneer Courthouse Square to demand that BofA CEO Ken Lewis be fired for the bank's policies that have devastated the economy. It was part of a coordinated day of action in dozens of cities across the country, where taxpayers signed proxy cards demanding a change in leadership at the nation's top bank.

We are just hearing back from our rally in Minneapolis today, as part of a national day of taxpayer actions calling for Bank of America CEO Ken Lewis to be fired.

More than 30 SEIU and UFCW members gathered with community allies at a BofA-owned insurance office in Minneapolis to hold Ken Lewis accountable for wreaking havoc on the economy. They sent a group inside the branch, where they spoke with a representative from the bank, and then held a rally outside.

Stay tuned for updates from our major actions in Washington, New York, Los Angeles, and San Francisco. Click here to find an event near you.

Taxpayers are rallying in dozens of cities across the country today calling for Bank of America CEO Ken Lewis to go. Today's events are off to a great start. Here's a snapshot from the event in Providence:

We want to hear how your BofA events are going, so please let us know. Post an update from your action here, and click here to find an event near you.

How is Bank of America CEO Ken Lewis feeling a day before shareholders vote on whether or not he gets to keep his job? Stressed out, apparently. A Wall Street Journal story today reports that preliminary results of the Treasury's 'stress tests' of the major banks show that BofA may need to raise "billions of dollars." An analyst at FBR Group, a DC-area financial firm, projects that BofA's capital shortfall could be up to $70 billion.

The official stress test results don't come out until next week, but if BofA fails, the government may have to pour tens of billions more into the bank. Ken Lewis' mismanagement of the bank already has taxpayers on the hook for up to $199.2 billion.

It is time for CEO Ken Lewis to go. Click here to sign your taxpayer proxy card demanding that Lewis be fired and we will make sure it's delivered to Bank of America tomorrow.

There are going to be taxpayer actions going in today in dozens of cities around the country. Bank of America CEO Ken Lewis' failed policies have wreaked havoc on the economy. Taxpayers are getting together all over the country today to say that enough is enough and it is time for Lewis to go! I am going to be bringing you coverage of these actions throughout the day.

A national coalition of groups has organized major actions in Washington, DC, New York, Los Angeles, and San Francisco, and smaller events in about 60 other cities.

Several events are already underway up and down the East Coast:

Hartford, CT
Washington, DC
Miami, FL
Exeter, NH
Hanover, NH
Manchester, NH
Nashua, NH
New York, NY
Bethlehem, PA
Greensburg, PA
Hollidaysburg, PA
Lancaster, PA
Reading, PA
Williamsport, PA
Providence, RI
Blacksburg, VA

Find an event near you at TakeBackTheEconomy.org.

Bank of America just won't stop.

The New York Post reports this morning that in just the first few months of 2009, Bank of America added 15,000 jobs to its workforce in India. This is after Bank of America cut 34,000 jobs in the US, and pledged to cut 35,000 more.

Bank of America CEO Ken Lewis just doesn't get it. It's time for taxpayers to call for him to go.

More than 20,000 people have already signed "taxpayer proxy cards" asking for CEO Ken Lewis to be fired and to reform Bank of America. Can you help us reach 30,000 in the next 48 hours?

Click here to sign your "taxpayer proxy card" - we'll deliver them to Bank of America during its annual meeting on Wednesday.

When CEO Ken Lewis was asked about the nearly 35,000 announced job cuts, he showed little care for his employees:

"I feel bad about firing people, but at least I have the courage to do it."

This is the same Ken Lewis who took home $35 million in compensation in the last two years, and the same Bank of America that may receive up to $199.2 billion in taxpayer dollars.

You'd think they'd have some semblance of responsibility to the American public. After all, it's our government's money that's helping keep Bank of America alive.

Think again.

Help us reach 30,000 "taxpayer proxy cards." Click here to sign yours we'll make sure it's delivered to Bank of America on Wednesday.

Bank of America CEO Ken Lewis is apparently only interested in his personal bottom line, and not that off his company, his employees, or his investors. It's time for him to go.

Thanks for all you do - and please pass this message on to your friends to help us reach our goal.

Visit http://takebacktheeconomy.org/ to join our April 28th actions across the country and find an event in your area.

Taxpayers didn't cause this economic crisis, but we sure are paying the price.

Bank of America CEO Ken Lewis leads the way in the predatory, self-serving culture that gets executives rich at the expense of everyone else.

In just two weeks, Bank of America's shareholders will meet to decide CEO Ken Lewis' future at the company. Our government - and by extension, taxpayers - are the single biggest shareholder of Bank of America's stock.

This is our chance to send a message that it's time for Bank of America CEO Ken Lewis to go.

We're asking you to sign a "taxpayer's proxy card" to show your support for firing Lewis and reforming Bank of America - and we'll deliver it directly to Bank of America.

Click here to watch our shocking new video about why we need to fire Ken Lewis, and sign your name to a "taxpayer's proxy card."

(This video is narrated by former Secretary of Labor Robert Reich)

We are demanding these four things:

• Fire CEO Ken Lewis, who has helped destroy the bank and our overall economy
  
• Stop consumer abuses that hurt our communities, like skyrocketing fees and predatory lending
  
• Support bank workers' voice on the job to protect consumers and improve living conditions and wages by supporting the Employee Free Choice Act
  
• Provide affordable quality health care to employees so they do not have to rely on taxpayer-funded public health programs

Banks like Bank of America built a business model on screwing customers, pushing dangerous products, and burying customers in more and more debt. It would be bad enough if Ken Lewis' Bank of America just screwed its customers and taxpayers. But that's not all - the company also screws its workers.

Just days after receiving its first $25 billion bailout, Bank of America was caught hosting a conference call to defeat the Employee Free Choice Act - legislation that would help all working people, including Bank of America employees.

Enough. We need real reform, and it's clear Bank of America CEO Ken Lewis is part of the problem, not the solution. It's time for taxpayers to tell Ken Lewis to go.

We need you to take the next step right now. Watch our shocking new video and sign your "taxpayer proxy card" to vote out Ken Lewis.

We'll be in touch over the next several weeks about how we'll escalate our campaign to fire Ken Lewis. It's the kind of change our country and our economy so desperately need.

P.S. Mark your calendars - save the date on April 28th for a big action related to our campaign.