Bank of America & AIG use BAILOUT MONEY to LOBBY against labor bill, grease repug activists

[Julius Civitatus]

It gets worse and worse.

Apparently, fearing losing a portion of their overinflated salaries, top executives from Bank of America and AIG used money from the recent bailout to lobby conservative activists, and Republican politicians against the new Labor Bill.

I don't think I've ever seen such a blatant and open scheme by BIG MONEY to plot against the working man and the middle class. What's more, with OUR TAX DOLLARS!

Outrageous! :mad:

Bailout Recipients Hosted Call To Defeat Key Labor Bill

Three days after receiving $25 billion in federal bailout funds, Bank of America Corp. hosted a conference call with conservative activists and business officials to organize opposition to the U.S. labor community's top legislative priority.

Participants on the October 17 call -- including at least one representative from another bailout recipient, AIG -- were urged to persuade their clients to send "large contributions" to groups working against the Employee Free Trade Act (EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill.

Bernie Marcus, the charismatic co-founder of Home Depot, led the call along with Rick Berman, an aggressive EFCA opponent and founder of the Center for Union Facts. Over the course of an hour, the two framed the legislation as an existential threat to American capitalism, or worse.

"This is the demise of a civilization," said Marcus. "This is how a civilization disappears. I am sitting here as an elder statesman and I'm watching this happen and I don't believe it."

Donations of hundreds of thousands, if not millions, of dollars to Republican senatorial campaigns were needed, they argued, to prevent America from turning "into France."

"If a retailer has not gotten involved in this, if he has not spent money on this election, if he has not sent money to Norm Coleman and all these other guys, they should be shot. They should be thrown out their goddamn jobs," Marcus declared.
...

http://www.huffingtonpost.com/2009/01/27/bank-of-america-hosted-an_n_161248.html

What's so wrong about turning the US "more like France"? At least they have their priorities straight, and their basics covered.

[grannie4peace]

1. you need to make sure obama gets this-see what he did to citi

they are not getting their jet :)

[Zodiak]

2. The bankers do not want America to be more like France because of this

The French people have a history of treating their oppressors the way they deserve to be treated.

[ColbertWatcher]

8. We had a Revolution at about the same time the French had theirs.

We've gotten fat and lazy, while the French have had riots once a month ever since.

Good observation.

[Edweird]

9. I'm gonna pass on the monthly riots, but I am personally nowhere near fat OR lazy...

[ColbertWatcher]

13. I don't mean any individual necessarily, but ...

... the country overall.

When we can have more than 10% of the country support the previous administration's (and its party's) policies, we're fat and lazy.

I guess I can add stupid too.

[nichomachus]

3. Time to party

like it's 1789.

[depakid]

14. Trouble with that is the "incorruptable" ended up there himself

...without a trial and according to legend, the only man to be guillotined face-up, so he could see his death approaching.


Robespierre

[Julius Civitatus]

4. They are pissy that Obama denied their private jet on bailout money

High-Flying Citigroup Grounds Plans for $50M Jet

The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France.
The bank used TARP funds to purchase a new corporate jet for executives.

The decision came 24 hours after the banking giant, which was rescued by a $45 billion taxpayer lifeline, defended buying the state-of-the-art Dassault Falcon 7X -- one of nine to be flying in U.S. skies -- as a smart business deal.

The jet, the epitome of corporate prestige and privilege, can carry 12 passengers in elegant comfort.

ABC News has learned that on Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

http://abcnews.go.com/Business/Politics/story?id=6740011&page=1

[NuttyFluffers]

5. this should be kicked to the stratosphere and spammed in emails.

expose the bastards for the corrupt obstructionists they are. willing to sacrifice everyone in a moment of epic crisis for short-term self-destructive gains, utterly shameful.

[Julius Civitatus]

6. Kick!

[Romulox]

7. I'm not sure what people expected banks were going to do with $350 B of taxpayer money (no strings)

They're using it for their own selfish purposes. The directors of the company have an ethical duty to use the funds for the selfish purposes of their shareholders.

So why would anyone be surprised? If we didn't want taxpayer monies to be used for private purposes, we shouldn't have rammed through the TARP bill. :hi:

[beac]

10. Marcus should be "thrown out (of his) goddamn job"!!!

And then maybe shot... or guillotined.

[B Calm]

11. Let's hope Obama will put a stop to this!

[OregonBlue]

12. To the people of Minnesota, is there any question left about who Norm Coleman is working for? It's

not for you.

[Julius Civitatus]

15. Very good point

This is just so obvious. And their intentions quite transparent.