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PeakOil is You

THE Citigroup Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby lper100km » Wed 24 Jun 2009, 10:19:39

Where else is incompetency rewarded so blatantly?

Clearly the attitude of entitlement is alive and well. When companies are failing through lack of liquidity, hundreds of thousands are losing jobs as a consequence, the bankers give themselves a raise?

A rational management would clean out all these clowns, not reward them, since they created the problem in the first instance. In the hundreds of thousands of people in the banking system, there must be room for up and coming people who can be trusted to change the attitude. Retaining, promoting and rewarding simply ensures that nothing changes. The only talent that is being exhibited here is that of self survival and contempt for every one else.

What is needed here is a total attitude change and a return to the idea that compensation is commensurate with performance and that banking is a service, not a game. Good luck.
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Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby basil_hayden » Wed 24 Jun 2009, 10:37:30

$this->bbcode_second_pass_quote('lper100km', 'W')here else is incompetency rewarded so blatantly?



I'll take Government for $1000, Alex; Federal, State and Local.
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Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby green_achers » Wed 24 Jun 2009, 12:02:37

$this->bbcode_second_pass_quote('basil_hayden', '')$this->bbcode_second_pass_quote('lper100km', 'W')here else is incompetency rewarded so blatantly?



I'll take Government for $1000, Alex; Federal, State and Local.

Yeah, good ol gubmint is always there to be a whipping boy for the bubba crowd. If you really look at it though, you'll see that abuses on the scale we're talking are pretty much limited to the political appointee set, and that's pretty much the same class that gives us our bankers...
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Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby odegaard » Wed 24 Jun 2009, 12:51:49

$this->bbcode_second_pass_quote('', 'S')upposedly, these big raises are "necessary to retain talent.
If this is what's called "talent" I'm afraid to see incompetence. 8O
"They're not too big to fail, they're too big to bail out!" Peter Schiff
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Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby Sixstrings » Wed 24 Jun 2009, 15:01:31

$this->bbcode_second_pass_quote('', '[')b]Where else is incompetency rewarded so blatantly?


I'll tell you where, government jobs! So perhaps we shouldn't be surprised that banskters are the new bureaucrats, now that they're on the taxpayer teet.
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Re: It's good to be a Banskter -- CitiGroup raises salaries 50%

Unread postby basil_hayden » Wed 24 Jun 2009, 15:16:05

$this->bbcode_second_pass_quote('green_achers', 'Y')eah, good ol gubmint is always there to be a whipping boy for the bubba crowd. If you really look at it though, you'll see that abuses on the scale we're talking are pretty much limited to the political appointee set, and that's pretty much the same class that gives us our bankers...

I'd bet you're aware of the following rule:
If you can, do.
If you can't, teach.
If you can't teach, work for the State.

This tends to load up the government with an incompetent workforce.
And it's not an appointee thing; I work closely with a department that I haven't seen a thing come out of since January when mandatory furloughs were ordered. That department has come to a freaking standstill through incompetence and sloth.

Unfortunately it appears CitiBank had a bunch of people that thought they could, but didn't. Obviously those folks need greater salaries and super huge bonuses.
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