Yesterday the Wall Street Journal reported that Citigroup Inc. is seeking the Treasury's approval to pay special bonuses to key employees. According to the Journal, the focus of the request is the highly profitable Phibro trading division whose energy trading unit is at the point of losing key employees because of federal pay restrictions. Citigroup, aside from receiving $45 billion in TARP funds, is now 30% owned by the government.
With the current focus on whether to pay bonuses or...
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