Citigroup is for all intents and purposes bankrupt and owned by the US Taxpayer. The decisions of management made it so. Now a unit of Citi wants the Government to allow it to pay its executives massive bonuses.
http://www.businessinsider.com/henry-blodget-citi-begging-geithner-for-permission-to-pay-massive-bonuses-2009-4
This is at the same time that stories are circulating that Citi will need to raise even more money ASAP, because it failed the un-failable “Stress Test”.
http://www.ft.com/cms/s/0/f1bcd8f0-341e-11de-9eea-00144feabdc0.html?nclick_check=1
“How is this possible” you ask? It is possible because Wall Street has bought Washington. News just came out that Barney Frank’s former top staffer will now be the chief lobbyist for Goldman Sachs. Does anything surprise you about this?
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Former-Barney-Frank-staffer-now-top-Goldman-Sachs-lobbyist-43914907.html
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