Cap salaries, and lose talent to competitors who pay more.
Duh!
Things is, a number of those top traders and bankers got us into the mess that the taxpayers are footing the bill for.
Will have to get permission from the money czar or cap czar or the czar of the world behind the red curtain before that can happen.
So where are all these so called high power people going? Wells Fargo? Bank of America? AIG?
Der Fuhrer’s “wealth czar” will be on the case before long. Only corrupt, ‘RAT politicians are allowed to make “the big bucks!” Citibank should know that.
Why those FAT CATS!
Obama wont like this!
WHAT DO THEY DO DESERVE A RAISE?
Please anyone, answer that one.
These are the same idiots who marched on DC demanding we bail them out of the mess they created. They shouldn’t be allowed anywhere NEAR a bank!
Where is the grass greener?
The banking business is a disaster.
They can't afford to lose any more incompetents?
(from a recent e-mail: "I went to buy a new toaster and they threw in a bank." Also....."When the bank notifies you your check was returned due to insufficient funds, you have to ask if it's you or them that had no money to cover the check.")
Drudge said — FLASH: CITIGROUP intends to raise salaries by up to 50%; Effort to halt exodus of top traders, bankers... Developing...
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Ummm..., where are they getting more money? LOL...
I wonder if this has anything to do with bonuses.
A large part of executive/sales compensation can involve bonuses.
Perhaps the Bank of Obama put caps on bonuses and this is their only way to get around it?
Don’t know, just thinking out loud.
According to their 10K, the person in charge of capital markets (where all of the mortgage losses occured) made $12 million last year. The senior managers Citi has never been bashful about paying themselves, and they are experts at stiffing the people in the trenches. I might add...Vikram Pandit is utterly incompetent.
Must be a new type of affirmative action sort of thing.
This reminds me of the story about some Iranian ministry sending some people the bill for the bullets with which they killed the family’s relative. About the same idea....