Citi begs Geithner for approval of a "massive special bonus" (50% of 3-year cumulative compensation)

[Amerigo Vespucci]

The financial services giant, which will soon be partially owned by the U.S. government, has been asking for Treasury Department approval to pay out special bonuses to employees, reports the Wall Street Journal.

Citigroup CEO Vikram Pandit met with Treasury Secretary Tim Geithner in early April to push the bonuses, reports the Journal,

The payments could take several different forms, reports Reuters:

In one plan the bonus would be largely stock that vests over some three years and be worth at least half the employee's cumulative pay over the last three years, the paper reported.

http://www.huffingtonpost.com/2009/04/28/citi-wants-geithners-appr_n_192582.html

[provis99]

1. kiss my ass, Citigroup.

As one of your new owners, I say tough luck. Their CEOs can quit and find other jobs if they don't like the bonus situation.

[Skink]

2. Where are these guys gonna go.

To other taxpayer owned entities.

[Vidar]

3. Get a boat & join your fellow pirates.

[rucky]

4. They're so clueless they don't deserve to survive.

[aquart]

5. I bet he says yes.

I want that company dismantled, sold for parts, and salt sowed where its headquarters stood.