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http://finance.yahoo.com/news/Morgan-Stanley-CEO-gets-74M-apf-3212990988.html?x=0

http://finance.yahoo.com/news/Citigroup-gives-CEO-Vikram-apf-1085395641.html?x=0

Thieves on wallstreet back to business as usual

 Didn't these guys earn these rewards by producing outstanding results?

MORGAN STANLEY

NEW YORK (AP) -- Morgan Stanley CEO John Gorman has received stock grants and options worth about $7.4 million as part of his 2010 pay package.

In a regulatory filing Friday, the company disclosed that Gorman is getting 129,809 restricted shares. Based on the bank's Friday closing price of $30.01, the stock is worth $3.9 million. He also receives stock options worth $3.5 million, according to the filing.

The value of Gorman's total pay package for the year, which would include cash and perks, wasn't disclosed.

Chairman John Mack received 66,912 restricted shares, worth a little over $2 million at current prices, the New York-based investment bank disclosed in a separate filing.

On Thursday, the bank reported that its earnings in the last three months of 2010 rose 60 percent on strong investment banking results. The stronger results marked a turnaround for the bank, which struggled to find its footing after the financial crisis.

The investment bank paid $16 billion in bonuses and other compensation to its employees in 2010, up from $14 billion a year earlier. The bank restructured how it compensates employees and can take back employees' pay if they don't meet certain standards.

Morgan Stanley also reduced the amount of cash bonuses it pays and increased the amount of deferred compensation.

CITIGROUP

NEW YORK (AP) -- Citigroup Inc. is giving its CEO a big raise.

The New York-based bank is lifting Vikram Pandit's base salary to $1.75 million from just $1 a year effective immediately, according to a filing with the Securities and Exchange Commission on Friday. The announcement comes after Citi reported its first full year of profits since Pandit took over the top job in 2007. The bank also repaid the last of its bailout money last year.

Citi was one of the hardest-hit U.S. banks during the credit crisis, and received $45 billion in taxpayer aid. Pandit in 2009 pledged to take a $1 salary until the troubled bank returned to profitability. The government sold off the last of its stake in the bank in December for a profit of $12 billion.

Richard Parsons, chair of Citigroup Inc.'s board, said in Friday's filing that the board is "very pleased" with the progress that the bank has made under Pandit's leadership. Parsons said Pandit has "worked tirelessly to put Citi back on the right track."

The raise was not a surprise. In September, when the bank doled out raises to a number of top executives, Parsons had hinted that Pandit was in store for a big payout. The base salary also does not include stocks, options and other compensation that executives typically receive as part of their pay package.

Citigroup reported its fourth straight quarterly profit on Tuesday. With more customers paying their mortgages and credit card payments on time, the bank was able to reach into its reserves it no longer needed to cover loan losses.

Like others in its industry, however, the bank saw revenue from trading stocks and bonds fall sharply in the quarter. Citi shares also rose 40 percent last year, making it the best-performing stock among major U.S. banks. Shares still remain far below the $50-range they traded at pre-crisis, however.

Before agreeing to a $1 salary in 2009, Pandit had already received $125,000 in salary. His only other compensation that year was $3,750 in 401(k) benefits. In 2008, Pandit's compensation package was valued at $38.2 million. But most of that pay was made up of restricted stock and stock options.

Pandit still has plenty of work ahead of him. At the end of the 2010, Citi had set aside $40.7 billion or 6.3 percent of its total loans, for future losses. By comparison, its larger rival JP Morgan Chase & Co. set aside $32 billion, or 4.5 percent of its total loans, last year. That means Citi has more troubled loans than some of its peers.

These corrupt fool wouldn't even be around if the equally corrupt fool in our gov't hadn't bailed their companies out with our money.  You don't see how those extravagant bonuses are bound to upset people so soon after?

No,I don't

I think most people with room temperature and higher IQs would see that when when companies turn profits, the economy grows....and people get hired

The announcement comes after Citi reported its first full year of profits since Pandit took over the top job in 2007. The bank also repaid the last of its bailout money last year.

 When was the bailout?

Fair enough, you just seemed tone deaf towards any criticism of this practice.  I too rejoice when companies (at least those i'm long on) do well, i just find the bonuses somewhat excessive and certainly sympathize with the "withouts" who have seen few new jobs from this recovery.