Star trader threatens to leave Citi

CHICAGO (MarketWatch) -- Citigroup Inc. could find itself between a rock and a hard spot as it determines how to handle a hefty pay package that is likely to draw the ire of the government, investors and the public, according to a media report Sunday.

A star trader and his team have threatened to quit the financial giant's Phibro LLC energy-trading unit if their 2009 contracts, which could earn them as much as $100 million, are not met, The Wall Street Journal reported in its online edition.

http://www.marketwatch.com/story/citigroup-may-be-in-pay-squeeze-2009-07-25

 

These traders bonuses are null and void given that they'd be on the streets if it wasn't for Bush Jr bailing them out.

The entire mess started when Bush Jr decided that these banks were "too big to fail" and proceeded to threaten congress into giving him and Paulson Trillions to throw at their buddies.

The govt. should let all these banks go out of business and only secure the depositors.

 

imo these scum are making way too much money.

i dont care how smart they are.

until we CAP the kind of money these market manipulators can make, we'll have trouble.

 

receiving 0% money from government and lending it at 6% does not need any brain or entitle a person to be called a "star trader"

 

They should honor the contracts. These are energy commodity traders, which is probably a pretty difficult job. This isn't loan officer work, which anybody off the street can do. An employee is expected to generate around twice or more of his/her salary for a company. If these guys are making $200 million a year for the company, they deserve $100 million. It said these were pay packages and not bonuses. If anything, we should congratulate those traders for making so much fair and square at a time when others have lost so much.

 

if it isn't their money it's not a hard job.

what's hard about it?

 

All commodity traders should have to take physical possession of the commodities.. why steer all the best and the brightest into jobs that strip mine the economy?

 

Unless the condition for accepting the bailout was to null and void the contracts, otherwise they aint null and void.

 

You cannot be serious.

 

hahaha seriously?