There is an article in today’s edition of The Wall Street Journal that attempts to frame Citi’s pay “dilemma” with trader Andrew Hall of its Phibro unit as some type of Gordian Knot: Citi in $100 Million Pay Clash. It’s not.
It seems that Citicorp will legally owe Mr. Hall about $100 million for his compensation in 2009, but Citi’s senior managers are concerned about the political ramifications of paying such a large amount. The last time we checked, Citi had taken about $45,000,000,000–yes, $45 billion–from wealthy, middle-class, and… Read the rest

















































