The AFL-CIO on Tuesday launched its 2010 Executive PayWatch website that shows executive salaries at some of the country's largest banks and how much the institutions paid to Washington lobbyists.
The site includes financial information on Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Well Forgo. The launch comes at Congress looks to reform the financial services industry.
According to the site:
- Citigroup CEO John Havens received more than $11 million in 2009. The bank also received $45 billion in federal bailout funds.
- Bank of America executive Thomas Montag collected $30 million last year. Recently retired CEO Kenneth Lewis could collect as much $83 million in retirement.
- Wells Fargo increased its lobbying expenses by 27 percent in 2009. It's CEO, John Stumpf, received more than $21 million in 2009. Since the bank participated in the bailout and could not pay executive bonuses, it boosted Stumpf's base pay by more than 537 percent.
AFL-CIO president Richard Tumka said the banking industry spent a total of approximately $50 million on lobbying in 2009. Spending by the six banks that participated in the bailout accounted for nearly half of that figure.