Tax payers demand answers regarding investment in Dallas bank.
Wired PR News.com – Tax payers are seeking answers after a $2.25 billion investment in Comerica bank. As reported by CBS 11 News, many are now posing questions about how the money, granted through the government bailout plan, is being spent. Charles Jackson, a local taxpayer, is quoted in the report as stating, “If we are giving it to them then we should have more of a say so into how it is spent.”
As noted by CBS 11 News, Comerica Bank Chief Executive, whose base salary is $985,000, reportedly received $9 million in compensation in 2007, and it has yet to be revealed what bonuses he may receive from last year.
Texas Senator John Cornyn is quoted in the report as stating, “Billions of taxpayer dollars have been invested in financial institutions… We don’t know how or whether there are conflicts of interest, if the money is spent wisely, if it’s spent on corporate jets, in exotic locations and I think the taxpayer deserves to know that.”