Once again the financials are drawing the ire of the American government.
On Monday President Obama told Treasury Secretary Timothy Geithner to take all legal measures to block hefty bonuses awarded to employees of AIG .
The embattled insurance giant has received federal bailouts totaling $173 billion and is now paying $165 million in employee bonuses. AIG Chairman Edward Liddy says the firm was legally obligated to make already-committed 2008 employee-retention payments, the value of which were set early last year before problems at its Financial Products unit became public.
At the same time we're learning that Citigroup awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year in which the bank required two government rescues totaling more than $45 billion.
In 2008 Pandit was awarded a $958,333 salary, $9.84 million of stock and option awards including the sign-on bonus, and $16,193 of other compensation, according to a Citigroup proxy filing with the U.S. Securities and Exchange Commission on Monday.
Compensation for the 52-year-old Pandit was slightly higher than the $9.96 million that Bank of America , which has also received $45 billion of TARP money, awarded its CEO, Kenneth Lewis.
And that leads to our Fast Money Reader Poll. Is the public getting bilked?
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CNBC.com with wires