Sunday, Nov 29th

Last update08:34:39 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.”


Most Recent Related Stories...

Black Pastors To Trump: Our Meeting Is Not An Endorsement

Black pasters not endorsing TrumpSeveral members of a group of prominent African American ministers scheduled to meet with Donald Trump...

New York Times slams Trump's mocking of reporter as 'outrageous'

Donalt TrumpDonald Trump has added a new item to his growing list of presidential campaign firsts: mocking...

Donald Trump's denial challenged by reporter

Trump knew reporter"Somebody at the financially failing and totally biased New York Times said that, over the years,...

Kentucky Governor Restores Voting Rights To Nonviolent Former Felons

Beshear- Kentucky Gov. Steve Beshear (D) signed an executive order on Tuesday that would automatically restore...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!