Thursday, December 06, 2012

Money well spent

Love means never having to say you're long as you love money. February 2009:
Citi vows to use bailout money correctly "Citi understands that (the bailout) is about helping the American people, and supporting U.S. businesses and our communities," Citi CEO Vikram Pandit said in the report. Citi has received $45 billion from taxpayers in the last four months.
And did they -- December 2012:
Citigroup announced on Wednesday that it will cut 11,000 jobs, or 4 percent of its workforce, in an effort to trim expenses. The moves comes one month after Citigroup paid out nearly $14 million to two former executives, CEO Vikram Pandit and Chief Operating Officer John Havens, who were ousted for poor management.
We better keep the CEO and COO's taxes low though, to do otherwise would be a crime against freedom. [cross-posted at Firedoglake]


Montag said...

And, funny thing, Citigroup is not that far behind Bank of America in the "they're gonna crash and burn--again" sweepstakes.

Ah, well, these days, greed and artificially creating debt to capitalize on it are pretty much the same thing--it's what Vikram Pandit was selling, and it's what his successor will sell, too. And it will go on and on and on, until--or after--most of public is starving. And by then, it will be too late.

StonyPillow said...

Spend no tears on disgraced former CEO Vikram Pandit -- he hauled in $221 million for his five years at Citibank. Yes, a fifth of a billion dollars.

Makes you want to tax 'em.

Raoul Paste said...

Loot the companies and walk away.
What fine "job creators" they are.

pansypoo said...

too big to survive.