That didn't take long. :grr:

Citi, M. Stanley may pay $3 bln to keep brokers:WSJ
Sat Feb 14, 2009 8:13am GMT


NEW YORK (Reuters) - Morgan Stanley and Citigroup Inc are preparing to pay $3 billion of retention awards to brokers to keep them from fleeing a brokerage joint venture, the Wall Street Journal said on Friday, citing people familiar with the matter.

Terms are not expected until later this month, but the issue could grow politically sensitive because the government has injected money into both companies, the newspaper said.

Morgan Stanley is paying Citigroup $2.7 billion to take control of the joint venture, which will combine its brokerage operation with Citigroup's Smith Barney unit.

Citigroup has taken $45 billion from the Troubled Asset Relief Program, while Morgan Stanley has taken $10 billion.

A spokesman for the joint venture did not immediately return a call seeking comment.

more...

http://af.reuters.com/article/investingNews/idAFJOE51D00Z20090214

Why don't the fire them all and have unsuccessful brokers. Then they would not steal as much from the rest of us. Do we really have to pay them to keep screwing us?

How can they get away with this shit???

like he is with the auto companies. :shrug:

I might end up putting posters of Lenin or Mao before its over.:mad:

Let's say the cost of keeping someone employed, including payroll taxes, is $120,000. Over 5 years that's $600,000.

3 billion divided by 600,000 is 50,000 people.

How many people did MS and Citi lay off last year?

this country sings to Wall Street's tune, not the other way around. I like Obama, I voted for Obama. I support President Obama, but it's going to take this entire country to stand up to the bankers, the investment bankers and the MONEYCHANGERS for the citizens to gain control over our country. The playing field is NOT LEVEL, and the game is NOT rigged in our favor.

Wake Up America!:kick:Carnivore Capitalism is Eating ALL OF US!

We kept the stuff that allows us to ship our problems to other people to deal with, right? (I forget the word...I had a slip and fall so I overmedicated on muscle relaxant last night.)