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Monday, 24 February 2014

How the Bankers Stand to Profit from the Trans-Pacific Partnership

Susan Posel
Concerning the future of the Trans-Pacific Partnership (TPP), the president is expected to accelerate talks and negotiations to play import/export with other nations to ensure profits for rich countries and control one-third of global trade.

Payoffs for successful positioning regarding the TPP have left some bankers just a little bit richer.
Goldman Sachs, Morgan Stanley, JPMorgan & Chase, Blackstone Group, Fannie Mae, Northern Trust and Northrop Grumman extend financial kickbacks for government service.

Stefan Selig, investment banker for Bank of America (BoA) has been paid an estimated $9 million in bonuses and $5.1 million in incentives to work on international trade with the Department of Commerce.
Citigroup will offer executive contracts for “full time high level positions with the US government or regulatory body.”

Michael Froman, former Citigroup banker and current representative for US Trade has been given more than $4 million to join the Obama administration; while still receiving millions in investment funds.

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