The Straight Story About Bankers' Pay

A recent e-mail from the Service Employees International Union:

Hi - Today, the Wall Street Journal is reporting that big banks are breaking their own rules, easing pay restrictions and offering "forgivable loans" to bankers who need a little extra cash. This news comes just two weeks from when the bank CEOs sat on Capitol Hill and said - under oath - that they had placed new, tough restrictions on executive compensation.I just wrote a letter to the Financial Crisis Inquiry Commission (FCIC) asking them to investigate - you can, too: http://action.seiu.org/thestraightstoryA few weeks ago, in front of the newly-formed FCIC, the banks assured the American people that they'd written tough new rules for executive pay. But this week, it appears that banks have been adding the fine print: Bank of America is letting employees cash in on their stock holdings after just a few weeks instead of years, and Citigroup is offering some employees loans that they may never have to pay back.These same banks are kicking families out of their homes because they can't afford their mortgages, but they're offering their own executives loans they don't have to pay back? The American people deserve to know what's going on.Join me in asking the FCIC to investigate: http://action.seiu.org/thestraightstoryThanks!