How Much Should Citigroup CEO Vikram Pandit Make?

Sarah Anderson, a director at the Institute for Policy Studies, is an advocate of aggressive pay curbs and isn't likely to buy into an eight-figure income, no matter what the performance.

"I want taxpayers to feel confident that an unreasonable amount of money isn't ending up in their pockets," Ms. Anderson said of the executives. "This may be the time to inject some sanity into the pay system."

That may be so. But Mr. Pandit and others -- to the extent you believe they are the right leaders of Citigroup -- or whoever takes their roles are unlikely to hang around if they're not amply paid.

Read the whole story here.

Comments

[walk0nwalls]

-5 million a year.

[jeffp26]

The question is how much should Pandit have to give back that he already got overpaid by.

[True2]

If the truth be known Mssrs Vikram Pandit, OUGHT TO PAY BACK what he has earned FOR THE LAST 5 YEARS. LIKE ALL OTHER CEOS OF FAILED COMPANIES. IT'S NONSENSE THAT ANY OF THEM SHOULD EARN ANYTHING!!!!!

[dadw5boys]

Dr. Pandit is worth every penny he is paid. He should have been the CEO many years ago !

It was he who increased from 2 % to 10 % the amount to cover bad debts, it was he who changed the companys way of doing business to stop the purchase of Fraudlant Loan Packages from Country Wide.

It was Dr. Pandit who started investigating the loans they held and discovered the fraid from Country Wide and the overvalued home loans.

He deserves every dime he is paid to clean up and save the billions of retirement funds investested in Citigroup..

[anastasiabeaverhousen]

$8.00/hr

[dandypuddin]

Naw, minimum wage.

[SlithyTove]

I'd outsource his job to India instead.

[Checquoline]

I am tired of looking at this man's slimy face.

[Rule Of Law]

How Much Should Citigroup CEO Vikram Pandit Make?
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Well, that's not really the point is it? The question you should be asking, rather than this obvious red herring MSM corporate media sponsored distraction, is, how many pieces should Citi be broken into, never again to be allowed to grow to such size and power?

I know the easy fix is to play the blame game, make somebody suffer, throw up a sacrificial lamb, and call it a day.

But not this time! All of these financial power houses should be torn down brick by brick. They produce nothing, make obscene profit off other people's money and control far too much power--both political and in the marketplace. This must end.

[Keith52]

Wow that is absolutely right... Thanks.

[uglicoyote]

You have nailed this on the head.

[joebaggadonuts]

Agreed. Good call RoL.

[dagnome27]

How about one dollar ($1)?
Seems appropriate for someone who led his company into extreme financial trouble...

[MrWampler]

I'm seeing several comments that CEO's should be paid x-times the average employee, or y-times the lowest paid employee.

I like this idea, but I need to throw out the obvious loophole here: contractors are not "employees." Also your average burger-flipper is an employee of the franchisee, not corporate.

Now imagine the slippery slope this could lead to: there is no employment, only contracts. Any such legislation would have to take this into account.

[pategp]

If there was a way to lower the salary of ALL corporate CEOs and board persons at the same time across the board in the US, it should immediately be done. That way you eliminate the spurious arguement that the top people won't hang around unless they are ridiculously overcompensated. Unfortunately, I can think of no way to roll back their wages at once across the entire industrial spectrum of this country. If anyone has any viable idea(s) on how to do this, we sure need to hear from them. Business executives in this country are way, way overpaid, and they walk away with millions through their compensation packages and "golden parachutes" even when their companies go down the tubes, and the thousands of workers that produced that money are left with nothing.

[duze]

The American people need to see consequences. Real consequences. The same way they happen to any other common criminal. No, I'm not talking a fancy resort prison, I'm talking a real prison, were the regular guys go, if they committ a crime. It's time for something concrete. When one of these vultures, suffers a real consequence, the others will do anything to stay out of that kind of fear.

[duze]

Not a damn thing, No salary, bonuses, options, stocks. Nothing. If he was on board when this happened, he should be fired. When the average american didn't do their job to the company's satisfaction they were fired, period.

[rowzeer]

There are ALL overpaid. They make so much more than European and Japanese CEOs. They aren't worth the money. If their company loses money so should they.

[inorbit]

He owes the US govt. $300 billion. He shouldn't be paid a cent until he pays it all back!