WASHINGTON (Reuters) - A top U.S. labor group on Thursday asked the Obama administration's "pay czar" to stop any retirement payments to Bank of America Chief Executive Ken Lewis.
The Service Employees International Union sent a letter to pay czar Kenneth Feinberg, calling Lewis "one of the chief architects" of the economic crisis and saying he should not receive any retirement or severance package until the bank stops foreclosures and increases lending.
"Taxpayers have already provided nearly $200 billion in bailouts and backstops to Bank of America," the letter said. "This enormous public investment entitles taxpayers to have a say in the bank's executive compensation practices."
If you take FED money, be prepared to have unions thugs along with a PAY CZAR have a say in what your compensation will be.
Good luck Mr. Lewis!