The Alan Grayson Page

The Anthony Weiner Page

Guest Contributors


  • BN-Politics' administrators respect, but do not necessarily endorse, views expressed by our contributors. Our goal is to get the ideas out there. After that, they're on their own.
Blog powered by Typepad
Member since 05/2007

Blog Catalog

  • Liberalism Political Blogs - Blog Catalog Blog Directory



« Bank of America Publicity Stunt: Lewis off the Board but Still CEO | Main | Big Tent O' Snark: Obama's Obamamania?; The GOP Digs for the Pony; Scenes from Lindsay Lohan's Coloring Book; Bill Clinton Steps Up; Asshattery; Optional Education; and The Bad Palin Lolling on a Bearskin »

April 30, 2009


Steve B.

Deb I love most of the work you do but I can't agree with this article.

"Speaking as a tiny Citigroup shareholder, I think it would be worthwhile to let the company's demoralized execs and managers to leave, as their departure would make room for other folks who want jobs."-deb

Are you serious? I mean wasn't it just a month ago that you guys did a story about how surprise! Surprise! Employees from banks that are going to be regulated heavier ARE leaving to work for other companies and smaller firms.

I totally agree that some of the top level executives in these companies, which you've been faithfully exposing for a while now, were involved in downright shady behavior but not everyone is responsible.

You make a lot of sweeping generalizations in this article that seemingly only can make their point by comparing the average American to people who clearly aren't. Less than 30% of American's actually have a college degree & only about 9% have a graduate or professional degree. So if you must compare apples to apples.

Before you begin to do any type of salary comparison you'll see how ridiculous it is to imply that someone who worked hard enough to differentiate themselves from the masses should be willing to survive on the income of the average. I dunno maybe you don't believe in a market driven economy but the reason why they still have the option of leaving is because they actually CAN get other jobs. The average employee can't because in this economy and the comparative skills they bring to the table they're interchangeable.

Furthermore, I love how you either ignored or forgot to report that the bonuses that Citigroup asked for would likely be stock that vests over about three years which clearly shows a pay for performance component to it. Even though a lot its operations lost money some actually made net profits. Are you honestly telling me that if you worked in one of those profitable sectors and other companies were willing to pay you more to work for them that you'd say no in the name of loyalty?

Haha you go on to say "Speaking as a Citigroup shareholder (albeit a tiny one), I say Good Riddance!” So you're saying that not only do you willingly hold stock in a company that you don't trust but if there was a mass exodus of employees you'd gladly watch your stock take a dive even further?

I used to be a liberal till I got a clue, but I love it when they make masterfully crafted illogical statements. They did the SAAME thing when they hammered execs for spending any money on retreats/conventions/sponsorships yet gave little consideration for the actual effects it would have on the economy. Months later all the jobs liberals claimed to be saving by not allowing them to spend cash on those events easily was mitigated by the fact that it KILLED Convention season much to the dismay/unemployment of workers in the hotel/restaurant/hospitality industry. It's the same mentality that I'm sure you supported during the Clinton years when he imposed a luxury tax on boats which consequently put thousands of your precious median income earners out of work when the people who can afford those toys stopped buying them.

You ended off by saying "Given that the current crop of Citigroup execs have no apparent desire to protect Citi's shareholders of the U.S. taxpayers, I hope that our representatives in Washington will encourage further "demoralization" of (and departures by) Citigroup's execs and managers" I'm sorry but that has to be the scariest thing I've heard in a loong time. As a shareholder and what I think of as an intelligent person why would you encourage Washington bureaucrats to force capable people out of an industry? If you don't like Citi's management encourage people to wait for it.....SELL THEIR STOCK! If revenge is what you really want (be careful what you wish for) then you have all the tools at your disposal to get the executives attention you don't need government to do it for you.

Haha and if irresponsible spending on keeping employees happy is what you seem so concerned about Deb why don't you talk about our government spending? Essentially, Obama is giving you a citizenship bonus w/ the FED's money yet you don't complain. Maybe you just have a bias against big bad industry....which you paradoxically still support.

The comments to this entry are closed.