|Recent Featured Videos and Articles||Eastern “Orthodoxy” Refuted||How To Avoid Sin||The Antichrist Identified!||What Fake Christians Get Wrong About Ephesians||Why So Many Can't Believe||“Magicians” Prove A Spiritual World Exists||Amazing Evidence For God||News Links|
|Vatican II “Catholic” Church Exposed||Steps To Convert||Outside The Church There Is No Salvation||E-Exchanges||The Holy Rosary||Padre Pio||Traditional Catholic Issues And Groups||Help Save Souls: Donate|
Wall Street Pays Bankers to Work in Government and It Doesn't Want Anyone to Know
newrepublic.com Citigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi,Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these “golden parachutes” ensure more financial insiders in policy positions and favorable treatment toward Wall Street. “As shareholders of these banks, we want to know how much money we have promised to give away to senior executives if they take government jobs,” said AFL-CIO President Richard Trumka in a statement. “It’s a simple question, but the banks don’t want to answer it. What are they trying to hide?” The handouts recently received attention when Antonio Weiss, the former investment banker at Lazard now serving as counselor to Treasury Secretary Jack Lew, acknowledged in financial disclosures that he would be paid $21 million in unvested income and deferred compensation upon exiting the company for a job in government.
Sign up for our free e-mail list to see future vaticancatholic.com videos and articles.