The Service Employees International Union (SEIU) has asked Secretary of the Treasury Timothy Geithner to prohibit banks receiving taxpayer bailout money from lobbying the federal government, especially against the Employee Free Choice Act.
While in front of Congress, Bank of America CEO Ken Lewis revealed a shocking admission: he thinks it’s in "the best interest" of Bank of America to spend money lobbying against economic recovery legislation like the Employee Free Choice Act.
That is not acceptable. Companies that receive tens of billions in taxpayer money should not be allowed to lobby against policies that would help out millions of taxpayers in this tough economy.
Treasury Secretary Tim Geithner recently did the right thing by imposing restrictions on bailout banks from using money for corporate jets and excessive executive pay. We’re encouraging Secretary Geithner continue that progress by saying banks with government bailouts can’t spend money on lobbying.