As reported on MSNBC.com (Nov. 1, 2009):
Executives of America's 28 largest banks will meet with Federal Reserve supervisors on Monday to discuss the Fed's plan to police banks' pay policies, officials said Friday.
Consumer spending plunged in September by the largest amount in nine months, reflecting the end of the government's Cash for Clunkers auto sales program. Incomes, the fuel for future spending, were flat.
What History Says:
In 1802 it was said: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”
Thomas Jefferson (1802).
Today’s Required Response:
Call, write, or email your elected officials and tell them NO pay for bank executives without consumer protection and bankruptcy reform. Why do the bank executives get an audience with the Federal Reserve, while their lobbyists thwart consumer protection laws and bankruptcy reform? Are you, your clients, friends and family getting pay raises!
STAND UP AND SPREAD THE WORD OF THOMAS JEFFERSON!