TV News LIES

Saturday, May 23rd

Last update08:03:39 PM 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...


Edward Snowden: NSA reform in the US is only the beginning

Edward SnowdenEdward Snowden has hailed landmark shifts in Congress and the US courts on NSA surveillance but...

'Clinton Cash' publisher corrects '7 or 8' inaccurate passages

Hillary ClintonIn trying to defuse the potential damage of the buzzy book “Clinton Cash: The Untold Story...

How the US Treasury Department Promotes Israel's Propaganda Lines

US Treasuryn February, a US Department of the Treasury press release announced sanctions on three Lebanese in...

Jeb Bush Confronted By College Student: 'Your Brother Created ISIS'

Jeb Bush A college student told likely GOP presidential candidate Jeb Bush on Wednesday that his brother, former...
 
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!