Tuesday, April 28, 2009

Citi Bonuses... They really are needed

This WSJ article discusses how Citi is requesting permission from the Treasury Department to issue bonuses to "key employees". This is "key" to a banking revival in the US, since without this experienced talent, American financial firms will be at a major disadvantage when competing with foreign firms.

With this in mind, it is an absolute no-brainer for the Treasury to allow for these bonuses. I don't want to hear BS (and this is BS free remember) populist ramblings that it's taxpayer money and these are filthy individuals. Without these individuals, the American banking industry will not be able to thrive once again, and will have unfavorable effects on the entire economy, including our friends the populists. These bonuses must be approved if the United States is to rebound from this current downturn. 

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