TV News LIES

Saturday, Jul 23rd

Last update05:20:13 AM GMT

You are here News Politics Obama Admin's TPP Trade Officials Received Hefty Bonuses from Big Banks

Obama Admin's TPP Trade Officials Received Hefty Bonuses from Big Banks

E-mail Print PDF

Stefan SeligOfficials 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.”

More...


Most Recent Related Stories...


Trump University Lawsuit Survives Dismissal Attempt

Trump U lawsuit to continueA U.S. judge on Friday tentatively rejected Republican presidential nominee Donald Trump’s bid to dismiss a...

UK Guardian: Donald Trump: the madman in his castle

Madman TrumpSo after a miserable couple of weeks for everyone who gives a damn about peace, love...

Hillary Clinton Picks Sen. Tim Kaine for VP

Tim KaineHillary Clinton formally locked up the Democratic presidential ticket late Friday -- announcing her pick of...

UK singers, others complain about Trump's use of their music

George HarrisonThe estate of former Beatle George Harrison is complaining about the use of his music at...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!