Monday, November 24, 2008

"Saudi prince Alwaleed bin Talal comes to rescue of Citigroup" -

The Prince may still be the largest single shareholder in Citigroup. It is curious, given the amount of control that even 4-5% of ownership can wield, that this is not mentioned in any news report I have seen today on the US actions to bailout the company. Surely, the Prince stands to gain considerably by this move, and I think we all need to know this. And we should all know more, too, about who are the other owners of Citigroup. How many employees at Citigroup make more than, say, 150,000(USD)/year? Given how badly the company has been managed, shouldn't "we" who are giving them all this money insist as a condition of the action insist that no employee earn more than 150,000/year? Those who are unhappy with that cap can seek employment elsewhere. Imagine explaining to the bulk of Americans why 150,000/year is not enough?

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