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That is what happens when governments try to run banks.
They can barely manage the postal system.
So tell me Tim, how is the new job?
Full article here.
They can barely manage the postal system.
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Citi, meanwhile, doesn't want to see Phibro walk across the street, so it's begging Tim Geithner to let it pay everyone a massive special bonus totalling 50% of their cumulative compensation for the past three years. (That would presumably be $75-$100 million for Hall, paid in stock that vests over three years).
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And then pity poor Tim Geithner. If he says "no" to this request, Phibro will walk from Citi, taking its revenue with it. If he says "yes," he'll get his face ripped off by the public and media again.
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Citi, meanwhile, doesn't want to see Phibro walk across the street, so it's begging Tim Geithner to let it pay everyone a massive special bonus totalling 50% of their cumulative compensation for the past three years. (That would presumably be $75-$100 million for Hall, paid in stock that vests over three years).
...
And then pity poor Tim Geithner. If he says "no" to this request, Phibro will walk from Citi, taking its revenue with it. If he says "yes," he'll get his face ripped off by the public and media again.
...
Full article here.
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