Obama Admin’s TPP Trade Officials Received Hefty Bonuses From Big Banks

[kentuck]

http://www.republicreport.org/2014/big-banks-tpp/

<snip>
Officials tapped by the Obama administration to lead the Trans-Pacific Partnership trade negotiations have received multimillion dollar bonuses from CitiGroup and Bank of America, financial disclosures obtained by Republic Report show.

Stefan Selig, a Bank of America investment banker nominated to become the Under Secretary for International Trade at the Department of Commerce, received more than $9 million in bonus pay as he was nominated to join the administration in November. The bonus pay came in addition to the $5.1 million in incentive pay awarded to Selig last year.

Michael Froman, the current U.S. Trade Representative, received over $4 million as part of multiple exit payments when he left CitiGroup to join the Obama administration. Froman told Senate Finance Committee members last summer that he donated approximately 75 percent of the $2.25 million bonus he received for his work in 2008 to charity. CitiGroup also gave Froman a $2 million payment in connection to his holdings in two investment funds, which was awarded “in recognition of [Froman's] service to Citi in various capacities since 1999.”

Many large corporations with a strong incentive to influence public policy award bonuses and other incentive pay to executives if they take jobs within the government. CitiGroup, for instance, provides an executive contract that awards additional retirement pay upon leaving to take a “full time high level position with the U.S. government or regulatory body.” Goldman Sachs, Morgan Stanley, JPMorgan Chase, the Blackstone Group, Fannie Mae, Northern Trust, and Northrop Grumman are among the other firms that offer financial rewards upon retirement for government service.

........more

[newfie11]

1. We can kiss the earth good by

Hope the offspring of these fools appreciate the disaster caused by greed!

[Scuba]

2. No one could have predicted that.

[daleanime]

3. Kick....

[cantbeserious]

4. The Oligarchs, Corporations And Banks Own And Control The Government That Owns And Controls Us

eom

[Victor_c3]

9. I've posted this toon before, but I thought it was appropriate here as well

[IMG][/IMG]

[another_liberal]

5. And who is surprised?

As the old saying goes: "They're so crooked they have to screw themselves into bed at night."

[solarhydrocan]

6. Fight back

Nationalize the Fed
http://www.progressivegazette.com/2013/12/nationalize-federal-reserve.html




It's a start

[CanonRay]

7. Does the phrase "the fix is in" still mean anything

I think it applies in this case.

[madrchsod]

8. at least with the republicans you can see the knife....

oh well,another day in the land of the free and the home of the brave.

[Squinch]

10. Kick. This thing is going to happen, and what's left of the middle class is history.

[Octafish]

11. I really would like Democrats to act like Democrats.

The Republicans shouldn't get to OWN everything.

[PowerToThePeople]

12. Take Action!

It is Certainly not a "done deal"

[FiveGoodMen]

13. 2012 primary was sorely needed.

[woo me with science]

14. kick