So re: that report Citi will be raising base salaries to compensate for bonus shrinkage? TARP Congressional Oversight Panel chair Elizabeth Warren is not happy. She appeared on Bloomberg earlier today to say as much, and take issue with the claim that Vikram made a few months back on the Hill that he now understands the reality of what's up.
"I just have to say: These guys just don't seem to get it," Warren said. "They're taking taxpayer dollars in order to keep this business alive, and yet they think that, when Americans are out of work, when people are struggling, when this comes out of taxpayers' pockets, that they can double their salaries? This is more about: Does anyone really understand what's going on here?"
Liz! Has it not been made clear that when it comes to Citi, with the exception of tackling janitorial issues, the answer is always no? Do you know what's going on here?
In related news, the SEIU, also not happy with the 'group, had this to say:
"Color us skeptical, but not surprised: The top dogs at a company who took three taxpayer-funded bailout packages worth $45 billion, while wrecking the economy and keeping the bulk of its employees at near-poverty levels, have decided to reward themselves once more. Unfortunately, not all raises are created equal.Citigroup needs to commit to give any new raises to front-line bank employees, who struggle just to make ends meet while dealing with the rising costs of healthcare, not top executives who have contributed to this mess."
Warren Slam Citi [The Hill]
Posted by guest , Jun 24, 2009 1:45PM
I struggle to make ends meet.
D. Trump
Posted by guest , Jun 24, 2009 1:46PM
Yeah, these dummies don't have a clue! Why are they so stupid to think they should pay to keep the talent that brings in revenues! It's not like generating revenues will aid them in paying back TARP! rabble rabble rabble
Posted by guest , Jun 24, 2009 1:48PM
#2 should work in PR.
Posted by guest , Jun 24, 2009 1:49PM
Is 50% a double? Or is she using C's special math?
Why is Erin doing crunches all the time at the top of this blog?
Posted by guest , Jun 24, 2009 1:50PM
50% of nothing is still nothing...
Posted by guest , Jun 24, 2009 1:52PM
Traders are 'front line' employees too.
Posted by Anal_yst , Jun 24, 2009 1:54PM
Because the Service employees are also experts on compensation, capital markets, etc, etc...
Posted by guest , Jun 24, 2009 1:55PM
SPREAD THE WEALTH!
I HATE PEOPLE THAT HAVE MORE MONEY THAN ME!
Posted by guest , Jun 24, 2009 2:06PM
Where did all the brainwashed Ayn Rand sheeple come from?
Posted by guest , Jun 24, 2009 2:08PM
I would rather be an analyst in Charlotte than one in Houston.
Posted by guest , Jun 24, 2009 2:17PM
why is this only about Citi? BofA is doing the same thing...why isn't she slamming Lewis, Moynihan, or Montag as well?
Posted by guest , Jun 24, 2009 2:19PM
What is a Vikram?
-American Taxpayer
Posted by guest , Jun 24, 2009 2:20PM
I just have to say: the peasantry just don't seem to get it.
Why would profitable bankers/traders remain at Citi making profits in the competition can offer significantly more money? This isn't public service, the bottom line is all that matters.
Posted by guest , Jun 24, 2009 2:22PM
"No, Tim, this is the correct grip for safecracking. Notice the size of the gap between my fingers. Look familiar? Ok, just think of that next time."
Posted by guest , Jun 24, 2009 2:25PM
Thank god I work in Chicago.
Chicago analyst
Posted by guest , Jun 24, 2009 2:29PM
Wow, I hope Warren's lack of reasoning and deep-thinking abilities aren't trasferred to her students at Harvard Law. This babe is dumb.
Posted by guest , Jun 24, 2009 2:50PM
I would tax that ass. Mmm, mmm sweet vanilla love.
Posted by guest , Jun 24, 2009 3:05PM
Glass Steagall act.... Banks should be Banks. Trading groups and Investment Banks should be stand alone institution. We all know a Chinese Wall can sometimes prevent the passing of information, but what about poor capital management. Imagine a trade shop calls up his FCM and says, "My bad... I am down 2 billion and cant get an LOC from anyone. Would you mind if I just left this position out there until the market turns around. By the way I will only need the money for 3 years... oh and I expect to only pay fed fund overnight lending rate.
Posted by NAS Keflavik boi , Jun 24, 2009 3:10PM
Liz Warren is the classic "sleeper" type chick -- plain midwestern jane on the outside, but a milky-hued sex machine in the rack.
The automotive analogy would be the 383 V-8 with 10:1 pistons surreptitiously swapped into the unassuming-looking '71 Plymouth Duster.
This squid would be all over that like a hog after corn on a col fall day
Posted by NAS Keflavik boi , Jun 24, 2009 3:10PM
Liz Warren is the classic "sleeper" type chick -- plain midwestern jane on the outside, but a milky-hued sex machine in the rack.
The automotive analogy would be the 383 V-8 with 10:1 pistons surreptitiously swapped into the unassuming-looking '71 Plymouth Duster.
This squid would be all over that like a hog after corn on a cool fall day
Posted by guest , Jun 24, 2009 3:11PM
In the photo, Elizabeth is showing us the pee-pee size of the lucky DB BSD who scored a date with her after her last appearance on DB.
No, it wasn't TGFD.
BTW, TGFD is wondering about the color and style of panties Elizabeth might be wearing today, and whether that p'y is shaved smooth or not.
The Guy from Delaware
Posted by NAS Keflavik boi , Jun 24, 2009 3:14PM
1. she's indicating circumference
2. pale blue
3. full (light brown) bush, but tastefully trimmed
Posted by guest , Jun 24, 2009 3:15PM
@21 That thing hasnt even seen the light of day since the Seoul Summer Olympics
Posted by Clown Capital , Jun 24, 2009 3:18PM
#20 J'sO&C's on "Car and Driver" magazines. Disgusting.
Posted by guest , Jun 24, 2009 3:30PM
@18 you're right on. The SalomonSmithBarney section of Citi got them into this mess and the commercial banking Citibank side is why the government bailed them out. Now Citi has the country by the balls. If the talent leaves, let it leave and let the bank collapse - we've spent enough effing money. At least break these mothers up.
Posted by Anal_yst , Jun 24, 2009 3:34PM
@25
It'd be easier than making it work as "one bank"
Posted by guest , Jun 24, 2009 3:41PM
TGFD says let ALL the wannabee big-bonus "talent" leave Citi now. Why should anyone give a shit?
What difference does it make? Those particular "revenue generators" who are seemingly so important to #2, don't really make any difference in any way, not a shit bit.
Citi is being reduced to a regular bank, the way it once was. That's where any future profits for Citi will originate. Travellers Insurance, SSB, etc will all be sold the f'k off, and the Gov't will gradually be repaid. Probably never in full, though.
Let those hot-shot generators go generate somewhere else. Let them trade their own accounts while they're at it.
Bring back Glass-Steagall too, just as #18 and #25 said .
The Guy from Delaware
p.s. NAS K boi@#22...
Circumfrence?? HA! She's talking length, boi. Whoever that DB BSD is, he just got exposed by that sweet piece of ass.
Posted by guest , Jun 24, 2009 3:53PM
Why is Elizabeth Warren always talking about money and such? What about children and working families? I guess they don't matter as much in her world as Halliburton matters. Typical politician. Also environmental racism.
Posted by guest , Jun 24, 2009 3:55PM
Guest@#23...
If you're referring to Elizabeth's snatch, you are probably mistaken. TGFD thinks some guy is banging that thing regularly. A chick might be getting in a lick or two as well.
If you are referring to TGFD, you are definitely mistaken.
The Guy from Delaware
Posted by guest , Jun 24, 2009 3:55PM
as someone who lost their job at CITI in December and who actually made money. where is my job back???? no one ever seems to say this in all the news reports.
Posted by guest , Jun 24, 2009 3:55PM
as someone who lost their job at CITI in December and who actually made money. where is my job back???? no one ever seems to say this in all the news reports.
Posted by guest , Jun 24, 2009 4:09PM
Guest@#30/31...
You are the kind of person TGFD cares about. Your situation is one that should be addressed in the media, but unfortunately, it is not.
The arrogant tools here on DB who boast about their so-called, lucrative jobs mean nothing to TGFD. Maybe after they've fallen and eaten some shit, I might be considerate of them.
The Guy from Delaware
Posted by guest , Jun 24, 2009 4:47PM
@14, when I see this pic or one of Timmay with a similar hand gesture, I am always reminded of this dude and it makes me smile.
http://www.funnyordie.com/videos/be30300653/head-crusher-vs-face-pincher-by-kids-in-the-hall-from-greatest-comedy-sketches
Posted by guest , Jun 24, 2009 6:14PM
She is an academic, not a politician. and having been a student (but not at Harvard), I can tell you she is certainly not stupid. Don't be too intimidated because a woman is smarter than you.