lisa lindsley afscme, "too big to fail banks - perspective from the us" 26 march 2013 pirc...

U.S. Perspective on BanksLisa Lindsley - American Federation of State, County and Municipal Employees (AFSCME)

PIRC Annual Corporate Governance Conference 2013

US Perspective on Banks26 March 20132

26 March 2013 US Perspective on Banks3

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Concrete ideas to increase staff morale, buy in and knowledge/skills

Communication Staff hear from the officers All staff meeting once a year.Communicate with staff directly and often.Communicate with staff to give them opportunities to

participate.Help staff understand how generous our benefit plan is

compared to others.

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I am concerned that the size of some of these institutions becomes so large that

it does become difficult for us to prosecute them when we are hit with

indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national

economy, perhaps even the world economy.

US Attorney General Eric Holder, 6 March 2013

US Perspective on Banks26 March 20137

26 March 20138

Not a “Tempest in a Teapot”

"If you don't want a free society, then start dictating what compensation can be.”"I don't think you need this amount of detail, you can still do your supervision without it."

26 March 2013 US Perspective on Banks 9

Follow the Money !Banks are Big Spenders

26 March 2013 US Perspective on Banks10

Institution 2012 LobbyingUS$

2011-12 Campaign Contributions US$

JP Morgan Chase 8,060,000 4,204,293

Goldman Sachs 3,540,000 7,887,924

Morgan Stanley 3,350,000 3,724,163

Bank of America 2,750,000 2,747,671

Wells Fargo 8,790,000 2,639,644

Citigroup 5,260,000 2,380,012

Center for Responsive Politics www.opensecrets.org

Lisa LindsleyLLindsley@afscme.org

PIRC Annual Corporate Governance Conference 2013

Thank You!