I found out today that the six top banks in the USA have set aside $75 billion for bonuses. One of these is Citi, who was bailed out just a little bit ago. One top executive is actually getting $100 million. When asked why he received so much, a representative said, "For us to do our best, we must have the best." So to keep this trader, they MUST pay him an outrageous amount of money? I would be fine with a car that didn't smell like fire and a new Rubik's Cube. WTF!
So I researched this guy. Andrew J. Hall is the head of Citigroup's energy-trading unit. Citi is worried that if they pay him or not, they will be in trouble. Being a key trader, Hall could leave if he doesn't like the money, leaving Citi in deep trouble. If the do pay him, this will anger many Americans because the government has paid Citi $45 million in bailout money already. The government owns 34% of Citigroup and many believe that they have the ability to stop this payment.
I personally believe that any bank that has received a bail out must pay that back before any bonuses are handed out. Hall owns a castle, he won't be hurting if he only gets his basic salary. Banks are the biggest douche bags of any business. They beat tax collectors and politicians. They do so many underhanded things. The fees they put are retarded. They will charge you if you don't have enough money in there. Banks need to just put on their sunglasses and change their names to Chad.
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