The $100 million dollar man. Should Andrew J. Hall get his Citibank bonus?

[lelgt60]

I've never been much interested in the myriad of posts denouncing corporations as if there were some metal munching monster with the name Goldman or Citibank. Corporations aren't inanimate objects. They consist of (very powerful) real people who have used their power and wealth to further their own, often very immoral and greedy ends. I much prefer attaching real names, and real deeds to the real people/villains behind the fake names.

The following article by David Segal of the NY Times (on Yahoo Finance), is interesting in that it gives a detailed description of one, IMHO, very greedy individual, and the effect he may have had on the rest of us.

In summary, Mr. Hall has the "legal" right to a $100 million bonus from Citigroup this year. But, this is hardly the first time he has "earned" such a bonus. In fact, according to this article, he may have been a significant contributor to the run up to $4 oil last year. And now, realizing the anger his acts may generate, he is trying to quietly recede into the background.

http://finance.yahoo.com/banking-budgeting/article/107456/100-million-payday-poses-problem-for-pay-czar.html?sec=topStories&pos=6&asset=&ccode=

[ixion]

1. I have been a citibank customer since the 80's, always paid my bill on time... last week

they sent me a letter saying they'd made a "business decision" to raise my rates by 5%, for no good reason other than their own greed.

I told them I'll be closing my accounts with them. They can take their bonuses and shove'em for all I care. :grr: