Ousted Goldman CEO and Ousted NJ Governor Jon Corzine to Head Bank of America?
by Don LoosAs the Bank of America (BofA) CEO, one of the first phone calls that Jon Corzine might receive could come from Service Employees International Union (SEIU) President and White House frequent guest Andy Stern asking Corzine to forgive SEIU’s $88 million debt or at least to renegotiate the BofA terms. As former head of the Democrat Senatorial Campaign Committee and a Democrat governor from New jersey, Corzine knows all too well how much the Democrat party owes SEIU bosses. Corzine as head of Bank of America could create interesting opportunities for Stern.
SEIU Debt Ceiling
Debts are increasing at every level of the SEIU purple conglomerate. SEIU’s national headquarters reported that at the end of 2008, its total liabilities grew to $156 million, a total debt increase of $36 million from the prior year. And, about $60 million of its assets are receivables owed to it by SEIU affiliates.
Even though SEIU’s national headquarters reports receiving $247 million in dues revenue called “per capita taxes”, much coming from workers who would be fired if they did not pay, its combined “Representational,” “Political,” “General Overhead,” “Union Administration,” “Benefits,” and “Gifts” activities cost the union $285 million.







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