Citigroup Spending Tax Dollars to Lobby for Wal-Mart

As virtually every person on the planet is well aware, save for a few pygmies living deep in the Amazon, Congress approved a massive bailout of $750 billion for the financial services industry last year. In spite of the fact that a lack of regulation was the primary cause of the current economic collapse, that money was approved with virtually no regulations.

Last week the Huffington Post reported that Citigroup, one of the largest financial institutions in the universe and a recipient of $50 billion in tax payer dollars, spent some of its bailout money to lobby against the Employee Free Choice Act (EFCA). The EFCA would make it easier for workers to form unions and bargain for better wages and benefits.

The bill would immediately impact large corporations like Wal-Mart, which is closely intertwined with Citigroup. On Tuesday of last week, Citigroup downgraded Wal-Mart's credit score out of fear that the bill would pass.

In light of the fact that Citigroup is only able to survive because of the hard-earned tax dollars of the same blue-collar workers that they are trying repress, this moves is pretty shocking.

"Everyone should recognize that when we are talking about Citigroup here, the emperor has no clothes," said Dan Pedrotty, director of the Office of Investment at the AFL-CIO. "You have a company surviving on taxpayer largess weighing in against workers who want to improve their lives."

Read the full story at the Huffington Post -->

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