AFL-CIO Unveils 2010 PayWatch Data

The AFL-CIO has launched a new, comprehensive database aimed at exposing the egregious compensation and lobbying efforts of the ‘Big Six’ on Wall Street.

The 2010 Executive PayWatch site catalogs the pay and anti-Main Street efforts of executives at Bank of America, Wells Fargo, JP Morgan Chase, Goldman Sachs, Morgan Stanley and Citigroup.

The online database reveals the banks, after triggering a financial meltdown and a taxpayer bailout, paid out $145 billion in total compensation and spent millions lobbying against meaningful financial reform last year – all while cutting back on consumer and small business lending.

“This report makes clear that Wall Street has still not gotten the message: Hard-working Americans will not be their ATMs,” said AFL-CIO President Richard Trumka. “For those at the top, it’s business as usual and worse. Bank executives who took massive taxpayer bailouts are now pouring money into lobbying against financial reform. It’s time for Congress to enact real financial regulatory reform and make Wall Street pay to create the jobs they destroyed.”

The AFL-CIO, its community affiliate Working America and more than 10,000 people are expected to converge on Wall Street for a major protest on Thursday, April 29, 2010, as part of its “I am not your ATM” campaign. For more on that campaign, click here.