Friday, March 13, 2009

Petition for Accountability

Found the link to this petition over on Feministe today, thought you might be interested...

"Subject: Stop the banks from spending our tax dollars to lobby for Wal-Mart

Dear Friend,

Last fall, Congress authorized a massive bailout for the financial industry - $750 billion to be distributed without restrictions on how it could be spent. At the time, CREDO activists like you asked Congress to impose guidelines on banks for spending our tax dollars. But Congress didn't listen. And now we're paying the price.

This week, Citigroup spent some of its $50 billion in bailout money to organize big corporations to defeat the Employee Free Choice Act - a bill that would make it easier for workers to form unions and bargain for better wages and benefits. According to the Huffington Post, Citigroup's retail analyst Deborah Weinswig participated in a conference call for corporate interests working to kill the bill.

Just a few weeks ago, Weinswig gave the Wal-Mart a favorable 9.5 rating out of 10. But now, in a cynical bid to stoke public fears that stronger unions will have an adverse affect on stock values, Citigroup downgraded Wal-Mart's rating from "Buy" to "Hold."

It is unacceptable that banks like Citigroup and Bank of America have been spending our tax dollars to fight for legislation that boosts corporate profits at the expense of the middle class.

I just took action to tell the people charged with overseeing the bailout to investigate Citigroup and Bank of America. If these banks don't stop misspending their TARP money immediately, they should not receive another dime. I hope you'll sign the petition, too.

Please have a look and take action.


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