Posted by: Aadisht on: April 30, 2009
This Dealbreaker story is awesome. Citi has very few profitable divisions right now, and the people who run them are demanding massive bonuses to stay on and ensure that they stay profitable. But after all the outrage over the AIG bonuses, Vikram Pandit is pre-emptively going to Obama to ask for permission.
The political palatability of giving out the bonuses is, alas, very low because one of the people doing the demanding owns a castle. Seriously. An actual 1000 year old castle outside Hanover.
You might be asking yourself what an investment banker does with a castle. In these times it’s excellent risk management. After all battlements are more reliable than presidents when a mob shows up with pitchforks.