Labor & Employment Law

2010 PayWatch: Spotlights Wall Street?s Effort to Block Financial Reform

By Mike Hall

Think you’re angry now about CEO bonuses, bailouts and the wheeling and dealing of Big Banks on Wall Street?

Just wait until Tuesday, April 13. The AFL-CIO 2010 Executive PayWatch launches that day, and it will spotlight Wall Street’s Big Six: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo/Wachovia. Each stuck its hands out for the billions of dollars of corporate welfare under the Treasury Department’s Troubled Assets Relief Program (TARP)?and now is using our taxpayer money to pay multimillion-dollar bonuses and, even worse, to lobby against financial reform in Congress to ensure they can continue to get away with economic murder.

AFL-CIO President Richard Trumka will highlight a live webcast at noon EST the same day to review the new data and outline plans to enact real financial regulatory reform and make Wall Street pay for job creation through a financial speculation tax.  

Here are just some of the other hot information AFL-CIO Executive PayWatch will unveil:

• New analyses of CEO pay at financial institutions aggressively fighting financial regulatory reform.
• The updated and comprehensive executive pay database.
• Overview of the union movement’s grassroots campaigns to engage the public and urge Congress to act.

The 2010 Executive PayWatch updates its comprehensive database of executive compensation for thousands of corporations.

Full post as published by AFL-CIO NOW BLOG on April 08, 2010 (boomark / email).