Stop the banks from spending our tax dollars to lobby for Wal-Mart

[link to act.credoaction.com]
"Last fall, Congress authorized a massive bailout for the financial industry - $750 billion to be distributed without restrictions on how it could be spent. At the time, CREDO activists like you asked Congress to impose guidelines on banks for spending our tax dollars. But Congress didn't listen. And now we're paying the price.

This week, Citigroup spent some of its $50 billion in bailout money to organize big corporations to defeat the Employee Free Choice Act - a bill that would make it easier for workers to form unions and bargain for better wages and benefits. According to the Huffington Post, Citigroup's retail analyst Deborah Weinswig participated in a conference call for corporate interests working to kill the bill.

Just a few weeks ago, Weinswig gave the Wal-Mart a favorable 9.5 rating out of 10. But now, in a cynical bid to stoke public fears that stronger unions will have an adverse affect on stock values, Citigroup downgraded Wal-Mart's rating from "Buy" to "Hold."

It is unacceptable that banks like Citigroup and Bank of America have been spending our tax dollars to fight for legislation that boosts corporate profits at the expense of the middle class.

Fortunately, there are two people in our government who might be able to help: Neil M. Barofsky, who is the Special Inspector General for the Troubled Assets Relief Program (TARP), and Elizabeth Warren, who is the Chair of the Congressional Oversight Panel to review TARP. Barofsky and Warren are both smart, level-headed leaders, and we believe that they will do the right thing if we ask them to.

Sign this petition today to ask Barofsky and Warren to order banks like Citigroup and Bank of America to stop spending our tax dollars to lobby for big business at the expense of hardworking American families. If they don't stop, they should not receive another dime of TARP money."