Say NO to Big Bank Executive Bonuses
Tell John Stumpf of Wells Fargo, Brian Moynihan of Bank of America and Jamie Dimon of JP Morgan Chase and other top big bank executives to forgo bonuses for bank executives this year. Instead, put that money back into the people and communities they have bankrupted.
Click here if you want to sign the following letter:
Dear Mr. Stumpf, Mr. Moynihan, and Mr. Dimon,
This is not a time to hand out multi-million dollar bonuses to bank executives. Families, homeowners, workers, and those of us looking for jobs are all struggling while your big banks continue to foreclose on families and refuse to pay your fair share of taxes in the midst of this revenue crisis.
It?s time to start doing right by your customers and by the American people.
We at The New Bottom Line demand you forgo your multi-million dollar bonuses this season. Use the money to write down principal for families who are underwater or facing foreclosure, lend to small businesses and families to get the economy moving and pay your fair share of taxes.
Even a fraction of 2010?s big banks $143 BILLION in bonuses and compensation could have helped with real economic recovery for the 99% in this country, including:
- creating 3.6 million jobs, at no cost to taxpayers.
- extending unemployment coverage for each of the 15 million unemployed workers in the United States by more than seven months
- buying individual health insurance plans for 65 percent of the nation's uninsured, changing the lives of more than 29 million people in the process.
This year, you are expected to rake in multi-million bonuses while leaving American families stuck picking up the tab for the crisis you caused. A tab that includes 9 million foreclosed homes and nearly $2 trillion in lost homeowner wealth due to foreclosure, including the largest drop ever in generational wealth in communities of color. We?ve lost 11 million jobs and continued record-high unemployment. You must forgo your bonus this year and start working to build a new bottom line-an economy that works for everyone.