Public Citizen | Action Items

Tell Congress: Stop Wasteful Corporate Spending

While the investment bank Lehman Brothers faced bankruptcy and asked the federal government for a bailout, it arranged to pay executives millions of dollars in bonuses.

The New York Times and Washington Post reported that in September, the bank arranged to approve payments for two fired executives worth $18.2 million, and another $5 million payment for an executive who was leaving voluntarily. Four days later, Lehman went bankrupt, the first of a series of financial shocks that led to a bailout costing taxpayers $700 billion.

In fact, former Lehman Brothers CEO Richard S. Fuld Jr. said in October that a compensation system that paid him about $350 million between 2000 and 2007 was appropriate despite the company's financial woes.

This is infuriating! Write a letter to the House Oversight and Government Reform Committee using the easy form below, and tell lawmakers to continue monitoring the actions of Lehman Brothers, fully exposing the irresponsible spending that contributed to our current financial meltdown. Then, tell at least five of your friends to do the same!

To: Members of the House Oversight and Government Reform Committee

As a taxpayer, I am deeply concerned to learn of the wasteful spending occurring at Lehman Brothers amidst a massive taxpayer bailout. Despite facing bankruptcy, this investment bank arranged to pay executives millions of dollars in bonuses, including two payments for fired executives worth $18.2 million and another $5 million payment for an executive who was leaving voluntarily. Even the former CEO, Richard S. Fuld Jr., said a compensation system paid him about $350 million between 2000 and 2007 and deemed it appropriate despite the company's financial woes.

This is infuriating! This behavior is despicable and wasteful. Our country is facing its worst economic crisis since the Great Depression. Taxpayers are struggling with high prices, mortgage payments and credit card bills, while these corporate executives are receiving posh bonuses and salaries. 

As a member of the House Oversight and Government Reform Committee, I am calling upon you to continue monitoring the actions of Lehman Brothers, fully exposing the irresponsible spending that contributed to our current financial meltdown. We need to ensure that a situation like this never happens again.

I look forward to your response.

0-25 of 5123 signatures

Number	Date	Name	Personalize your signature by adding a comment.
5123	October 08, 2009	Ronald Warner	I am so outraged that my government is using my tax money to reward such arrogant and indifferent incompetence. This is an ambomination the taxpayers will not forget or the ones responsible for aiding and abetting the enemy within !!!!
5122	July 04, 2009	James Wray	I, personally, don't think Congress gives a damn. However, it would be nice to be proven wrong.
5121	February 23, 2009	James Carrillo	Stop all Wasteful Federal Government spending (I.E) Pork spending and Stimulus NOW.. Listen to the people of the U.S.A. before its too late and that time is comming if you don't change your habits!!!
5120	January 26, 2009	kimberly kauffman
5119	January 24, 2009	Sheila Nelson
5118	January 20, 2009	Willis G. Farner
5117	January 20, 2009	Daniel Belachew
5116	January 19, 2009	Christine LeBeau
5115	January 19, 2009	Gloria Pondela	Stop funding the Corrupt Corporations now.
5114	January 19, 2009	Elizabeth Tomlinson
5113	January 19, 2009	dana armenta	I will publish your names and actions. You are where you are as public servants; if you cannot do this, you will be replaced by the American voters, whom I have made it my personal goal to help be more informed.
5112	January 19, 2009	Silvia Ator
5111	January 19, 2009	Craig Bradley
5110	January 19, 2009	Mary Prange
5109	January 19, 2009	William Bowker
5108	January 19, 2009	Big Daddy	You make me sick.
5107	January 19, 2009	Susan Check
5106	January 18, 2009	Robin Harrison
5105	January 18, 2009	Phillip Leija
5104	January 18, 2009	Walter L. Bradley III
5103	January 18, 2009	Aaron Pinsker
5102	January 17, 2009	Walter L. Bradley Sr.
5101	January 17, 2009	Walter L. Bradley Jr.	Take the money back from the executives who enriched themselves instead burdening the taxpayers.
5100	January 16, 2009	Thomas Admin	Thank you Sincerely,
5099	January 15, 2009	John Russell

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