
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.
A few weeks ago, in front of the newly-formed Financial Crisis Inquiry Commission (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.
Use the form to the right to submit your request to the FCIC - ask them to investigate the entire story behind Wall Street's pay schemes.
The President created the FCIC to uncover the roots of the financial crisis and make sure we put safeguards in place to keep it from happening again. When the bank CEOs stood in front of that Commission this month, they swore to tell "the truth, the whole truth, and nothing but the truth."
But today's article paints a different picture about the pay being doled out on Wall Street. Tell the FCIC it's time to get the rest of the story from the big banks.