Menedez to address continuing Wall St. bonuses

SEN. MENENDEZ TO DISCUSS EFFORT TO GET PRES. OBAMA'S ADMINISTRATION TO INVESTIGATE ALLEGATIONS OF REPORTS OF WALL ST. AVOIDING BAN ON EXECUTIVE BONUSES

Menendez has alerted Treasury Secretary Geithner to reports of deferred and re-named bonuses by firms receiving taxpayer money

WASHINGTON – Recent news reports have suggested that banks receiving taxpayer money from the TARP program may be circumventing the new ban on executive bonuses by announcing deferred bonuses or by calling them a different name. U.S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, will be in the financial district of Jersey City (often referred to as “Wall Street West”) on Monday to discuss his efforts to have the Obama administration examine these reports and ensure that the ban on bonuses for TARP recipients is enforced.

WHAT: U.S. Senator Robert Menendez to discuss his efforts to ensure that banks receiving taxpayer money do not circumvent ban on executive bonuses.

WHO: Senator Robert Menendez
Congressman Albio Sires
Hudson County Executive Thomas A. DeGise
Jersey City Mayor Jerramiah T. Healy
Jacob Koetsier, Legislative Advocate, NJPIRG -
New Jersey Public Interest Research Group

WHEN: Monday, March 9, at 10:30 AM

WHERE: Harborside Financial Center Plaza area across from interior entrance to Plaza 2, Ground Floor next to C-Side Restaurant in Jersey City.