Citigroup CEO protests efforts to tax bonuses - On TV News says CEOs are outraged. Unbelievable

[EV_Ares]

andit’s remarks came as lawmakers tried to impose punitive taxes on bonuses at financial institutions following outrage over millions paid to employees at the failed insurance company AIG.

New York: Citigroup Inc’s CEO Vikram Pandit has pushed back against efforts in Washington to tax bonuses at financial companies that received federal bailout funds, saying it could result in the loss of valuable employees right when they’re most needed.
Pandit, in a memo to employees said: “Citigroup has already removed the executives responsible for Citi’s troubles, and that any effort to spread blame to each and every employee in the financial industry is unwarranted.”
Pandit’s remarks came as lawmakers tried to impose punitive taxes on bonuses at financial institutions following outrage over millions paid to employees at the failed insurance company American International Group Inc (AIG), which has received $182 billion in federal aid.
“Efforts to stabilise the financial system would be significantly set back if we lose our talented people because Congress imposes a special tax,” Pandit said, adding that many people will likely find it difficult, if not impossible, to pay back the bonuses.

Link for entire article: http://www.livemint.com/2009/03/21131642/Citigroup-CEO-protests-efforts.html

[SmileyRose]

1. The CEO's that ran things into the ground can just be outraged.

Instead of a bonus they can have a box of hankies.

[Sarah Ibarruri]

2. CEOs and million dollar managers - they're SO special you know

I'm not sure what they're so special at that they need mega-billions in bonuses. Maybe they're special at playing the flute with their ass? They sure aren't special at running companies, unless you count running them into the F ground.

[Lasher]

3. They believe they are royalty.

And they will do anything whatsoever to keep the gravy train going.

[gratuitous]

4. You know what you should do, Mr. Pandit?

Just up and quit, that's what! By golly, that would show all of us and serve us right.

[SmileyRose]

5. I would prefer that he

get all mad and run away from home. That'll teach mommy a lesson about who's boss. The Bush's have a nice spot in Paraguay, maybe he can run away there.

[KharmaTrain]

6. This Dude Has Other Problems To Deal With

such as perjury...lying to Congress. Let's see if anyone in the House has the stones to slap him with contempt. Then there's ongoing DOJ and other investigations into his company's dirty tricks. Give it time...this scumbag will have his hands full.

Of course they'll find it "difficult" to payback the bonues...that's what civil and class action suits are for...and the list of those are growing.

While there will be those who escape responsibility in this mess and it will cost us trillions to clean this mess up, but there will be a price for these high flyers to pay.

[TankLV]

7. Hey Pandit!!!: We're only talking about CEO's like YOU, not ALL employees...!!!

unless you pay ALL your employees a HUNDRED MILLION!!!
If that's ideed the case, then, YOU'RE INSANE for paying ALL your employees that much, and YES WE WILL GODDAMN CONFISCATE THEIR STEALING OUR - OUR - MONEY!!!

You see, you RICH FAT BASTARD (and I'm not talking about his weight) - YOU CAN DO WHAT YOU WANT WITH "YOUR" MONEY - I COULD CARE LESS HOW YOU SPEND IT - BUT WHEN WE - WE - GIVE - WE GIVE - YOU - THAT - MONEY - WE GODDAMN WELL CAN AND BETTER TELL YOU HOW YOU CAN SPEND IT!!!

Don't like it - then DON'T TAKE OUR MONEY AND GO BANKRUPT!!!


see - it's really a simple concept - really!!!

[mikehiggins]

8. Just where the hell does he think they'll go?

Do you mean to say that I couldn't run Citi into the ground as efficiently as his people? Well, maybe not, but I'd be happy to take as little as a million for trying.

When I talk to people about why being an electrician is the best thing ever, I talk about people whose jobs consist of moving paper from one side of the desk to another (yeah, I know I'm oversimplifying--get over it). When they lose their jobs, what do they do? If I lose my job, what do I do? If I wasn't retired and collecting a pension, I'd probably look around for more work while I waited for an official job from the labor/management group that runs things.

Is there a grey market for paper pushing? I don't think so. If some big time CEO loses his bonus is he going to pack it in and practice saying "Want fries with that?" I really don't think so.

All this talk is just bullcrap of the first degree.

Not happy making a million dollars a year? Quit.

The world will get along just fine without you.

[notadmblnd]

9. Then tender your resignation Mr Citi Bank

Oh that'l hurt us. Since out of a population of 300,000,000 people, only a couple overpaid millionaires are capable of running a business:sarcasm:

[Fire1]

10. Taking the money back is one thing and unlikely successful

but why should they be exempt from wind fall taxes when these taxes apply to everyone else??? Pay it separately or combined with salary, pay it now or pay it later. It makes no difference to me, but it must be TAXED!!! TAXED!!! TAXED!!!

[Moostache]

11. Seppeku should be the order of the day...

About 98% of the time, Senator Grassely and I would not see eye to eye, but in the advocating of Corporate Seppeku I will stand shoulder to shoulder with him and offer my services at selecting the dullest blades to inflict maximum suffering on the scumbags whose only recourse for their sacred honor is taking one for the home team.

A long, long time ago - prior to becoming a mouthpiece of the right's propaganda machine - Dennis Miller had a spot on routine talking about this sort of thing (although in the context of child molestation). The gist of it is that when one find himself in such a position that harming a child is the only way to feel better (or in this case, stealing millions of tax payer dollars), that the ONLY response from them that is acceptable is to kill themselves. The punchline was that they needed to simply lean in and take one for the home team.

It is far past time for these corporate criminals to take one in the ear hole for the home team....

[Supersedeas]

12. "our talented people" need to be paid bonuses when they fail at their jobs??