NY AG urges Citigroup execs to forego bonuses

told you - no one is geting bonuses NY attorney general urges Citigroup executives to forgo bonuses this year; cites layoffs Monday November 17, 2008, 2:13 pm EST ALBANY, N.Y. (AP) -- New York Attorney General Andrew Cuomo says Citigroup executives should forgo their bonuses this year after the company announced massive layoffs. Calling the layoffs of 53,000 people "disturbing," Cuomo says top... [more]

told you - no one is geting bonuses NY attorney general urges Citigroup executives to forgo bonuses this year; cites layoffs Monday November 17, 2008, 2:13 pm EST ALBANY, N.Y. (AP) -- New York Attorney General Andrew Cuomo says Citigroup executives should forgo their bonuses this year after the company announced massive layoffs. Calling the layoffs of 53,000 people "disturbing," Cuomo says top executives shouldn't get bonuses while investors, taxpayers and employees suffer. Cuomo adds that other companies should consider doing the same, including American International Group, which has received billions of federal bailout dollars. In October, Cuomo's office asked nine banks to turn over information on bonuses. He wants to ensure none of the $125 billion the banks received from the government's Troubled Asset Relief Program will be used on executive pay. Goldman Sachs Group announced Sunday its top executives won't get bonuses this year. [less]