Citigroup: Again With Executive Pay!!!

The "New York Times" reported that Citigroup has decided to raise employees base pay to avoid the flack over year end bonuses. Some employees will see as much as a 50% increase in salaries. The Obama administration was caught off guard once again, since they seem to know nothing about Citi's plans. In my opinion, we should think twice about supporting people in the next election, who seem to be so fast and loose with the taxpayers' money.

On Monday, banking analyst Meredith Whitney recommended Goldman Sachs [GS 149.75 0.31 (+0.21%), which represents a shift in her more recent bearish position on financials. Now there seems to be some concern over executives with GS selling shares (close to $7 million worth) during the time they were benefiting from TARP loans. I'm not especially concerned over this, since they managed to keep the company from going under, which is more than can be said for other overpaid bank executives.

I don't plan on investing in Citigroup or GS, but if I were, it would be Goldman Sachs which, as far as I'm concerned, is obviously a much better managed company.