Obama TPP trade officials got hefty bonuses from Big Banks as “reward” for joining govt

[HomerRamone]

http://americablog.com/2014/06/obama-tpp-trade-officials-received-hefty-bonuses-big-banks-reward-joining-government.html

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.”...

Let’s see — Selig, $14 million. Froman, $6 million. Froman’s in office, but Selig is still awaiting Senate confirmation. I wonder if the millionaire Democrats in the Senate will see a conflict of interest at his confirmation hearing. Your best guess? (Mine too.)...

There’s more in Fang’s great piece. I want to send you there rather than quote too much. The second half of his article contains further explanation of my “NAFTA-style court” comment. This really is as bad as you think it is — one-world-government scary — with Exxon and Goldman Sachs and Google and Pfizer running the show.

[newfie11]

1. K&R

[blkmusclmachine]

2. DC is a racket

[JDPriestly]

3. Corruption -- pure and simple corruption.

Obama promised us he would not permit this kind of corruption in his administration.

These creeps have circumvented the bar on pay-backs and corruption by taking their pay-offs up front. Obama should fire them. Now.

And I believe he would had not the corporations taken over our government long ago.

[Ed Suspicious]

8. It's kind of hard to think the President couldn't get it done if he wanted. Lets face it - He's a

man who talks populism, but acts corporatism. He could throw the money traders out of the temple, but he just doesn't want to.

[ReRe]

4. K&R

Thanks for sharing this little jewel, Homer. I think we should forward it to all of our Senators. What say? Just so they will know that WE KNOW about this conflict of interest. Ask them to filibuster until we can get more Democrats up there to help roll back this horrible trade deal.

[pa28]

5. No wonder TISA and TPP looks like a wish list for banks. Because they are.

On one side of the table you have bankers and on the other you have bankers on retainer. All of it in secret, nobody representing the interests of the public.

[Scuba]

6. Oh boy, just wait 'til President Obama hears about this! He'll axe those guys in a New York minute!

Right?

[rhett o rick]

7. Why fight it? Just repeat after me, Globalization is wonderful, the TPP is wonderful, TISA is

wonderful, pass the cool aid.