Dem Rep. to Citigroup CEO: Explain How You Didn't Lie to Me

[deminks]

(from Kansas, no less)

http://tpmdc.talkingpointsmemo.com/2009/03/dem-rep-to-citigroup-ceo-explain-how-you-didnt-lie-to-me.php

When Rep. Dennis Moore (D-KS) asked Citigroup CEO Vikram Pandit about his 2008 compensation last month, Pandit gave a simple answer: $1 million. Except the truth wasn't so simple.

Pandit actually received $11 million as part of a lavish package of stock awards and retention pay, making his testimony to Moore dangerously close to an outright falsehood. And Moore is calling on Pandit to explain himself in a frustrated letter sent yesterday, a copy of which has been obtained by TPMDC.

Moore writes:

While I was initially pleased to hear you agree to take a salary of $1 per year with no bonus until Citi returns to profitability, I am deeply troubled by this latest news. Should we expect additional, unexpected announcements of bonuses or financial compensation for your work in 2008 or going forward until Citi returns to profitability?


(end snip)

link to letter here
http://www.talkingpointsmemo.com/documents/2009/03/rep-moore-letter-to-pandit-re-citi-compensation.php?page=1

[babylonsister]

1. Good/rec'd. I'd like an answer to that, too. nt

[adamuu]

2. "Very Truly Yours?"

:wtf:

[TahitiNut]

3. Well, Mr. Pandit is dear to him, don't cha know?