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Wednesday, November 26, 2008 11:18:28 AM
You really think these guys should be rewarded as much as they are? They all knew the market was going to crap only a neophyte would think that the housing market back in 2007 was still going to go upwards. Goldman and CITI knew better and still set itself up for failure...they all continued to give themselves bonuses and they severly underestimated the impact to their bottom line.
Nov. 20, 2007 http://www.guardian.co.uk/business/2007/nov/20/citigroup.goldmansachs
When it parted company with its chief executive, Charles Prince, two weeks ago, Citigroup put its exposure to the credit-related woes at between $8bn and $11bn.
I'm sure CITI's bonus was a few billion last year...and as tradition states, 1 percent of the employees receive 95% of the bonus.
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