Citigroup - suck on this, Vikram Pandit

any pushback on the criminal bankers is welcome...

from the nyt...

Citigroup Shareholders Reject Executive Pay Plan

Citigroup’s shareholders rejected the bank’s plan to award its chief executive, Vikram S. Pandit, $15 million in compensation, in a show of frustration about Wall Street pay.

At the bank’s annual meeting Tuesday in Dallas, a majority of investors voted against a proposal on executive compensation, which included approving Mr. Pandit’s pay package.

The advisory vote comes amid widespread furor over Wall Street pay. At a time when profits and stocks are slumping, bank chiefs are collecting multimillion-dollar payouts.

Last year, Mr. Pandit’s compensation included a $1.67 million salary and a $5.3 million cash bonus. In addition, he received a retention package valued at $40 million. In 2009 with the bank on the edge of failure, Mr. Pandit accepted only a $1 salary.

unfortunately, the shareholder vote is not binding...

Citi doesn’t have to act on the vote, which isn’t binding. Still, it speaks to shareholders’ issues. Only 45 percent of shareholders supported the plan.

“Citi’s board of directors takes the shareholder vote seriously, and along with senior management will consult with representative shareholders to understand their concerns,” said Jon Diat, a spokesman for Citi.

too bad they can't take the 99% seriously...

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A headline to gag a maggot

gee... how nice for them...

Health Insurers Making Record Profits as Many Postpone Care

The nation’s major health insurers are barreling into a third year of record profits, enriched in recent months by a lingering recessionary mind-set among Americans who are postponing or forgoing medical care.

[...]

Yet the companies continue to press for higher premiums, even though their reserve coffers are flush with profits and shareholders have been rewarded with new dividends. Many defend proposed double-digit increases in the rates they charge, citing a need for protection against any sudden uptick in demand once people have more money to spend on their health, as well as the rising price of care.

it would be hard to swallow news like this under the best of circumstances but, reading this while sitting at my desk here in kabul, it's particularly nauseating... our super-rich elites continue to vacuum up every last teeny-tiny bit of money and power from the struggling masses and screw the common good and any semblance of "we're all in this together" thinking...

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