Posted on 07/25/2009 1:44:33 PM PDT by Need4Truth
The hefty 2009 pay package of Andrew J. Hall, leader of Citigroup Inc.'s lucrative Phibro energy trading unit, may spark a showdown between the New York-based bank and government pay czar Kenneth Feinberg.
(Excerpt) Read more at finance.yahoo.com ...
Someone should investigate how Buffet made $4 billion profit from a bailed out company during the worst recession in a century... did he essentially recieve taxpayer money??
Put a stop to it, and liquidity instantly evaporates, bid-ask spreads skyrocket, and the risk premium users must now shoulder (that traders were shouldering) squeezes what's left of profits -- commerce retreats to the dark ages.
I dare you, Rahm.
Well said! It is good to hear from someone who understands the true benevolence of the trader.
So let me get this straight. There is no argument that he doesn’t make Citigroup far more than $100 million. The only argument is that $100 million is “too much money” to pay someone.
I guarantee there are numerous banks and hedge funds, in the US and abroad, that would be happy to poach Hall. I wonder if this is what Obama wants.
That’s probably why the banks who could pay back TARP money did so. Now they can hire this guy away from Citicorp - which is 1/3 owned by the government, and needs to make money any way it can.
I can’t believe that you want talent to remain in America.
Yeah what was I thinking. Nothing’s worse than talent when it comes to breeding inequality.
Thanks. I wouldn't call it benevolence, though...
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