Take My Money, Prince, You Deserve It!

[Update: We now know the exact figure of the multi-million-dollar package awarded to Chuck Prince, who wiped $36 billion off Citigroup's balance sheet -- $140 million. Disgusting.]

CitiGroup CEO Chuck Prince resigned yesterday. Hmmm, another quiet Sunday afternoon resignation of a Wall Street prince... a trend emerges. Why do these guys resign on Sunday afternoon? Do they think nobody will notice? Wall Street seems to have noticed -- the Dow is down 83 points at the time of this writing. That rate cut last week really did its job, didn't it! Those guys at the Fed sure are smart!

As a CitiBank customer with much of my meager savings in non-insured CDs, I'm not the least bit worried. If Citigroup fails, I happily donate that money to the Chuck Prince Golden Parachute Fund. Hey, Chuckie, glad to help out. You earned that multi-million-dollar severance package. After all, it's only fair that dumb working slobs like me chip in to help you get through this traumatic time. Take the money. I don't need it. It's not like I busted my ass for it or anything. Let it tumble from my big, dirty, calloused mitts and into your fragile baby-soft palms. Go buy yourself a few thousand-dollar pairs of shoes or something. Tip a few at Tavern on the Green on me. It's the least I can do.

CitiGroup recently took an $8 billion dollar (this figure has multiplied since this post was first made -- it's in the tens of billions now...) loss to officially kick off the sub-prime mortgage mess. Whispers of future multi-billion-dollar "writedowns" waft through the canyons of the Financial District and Midtown. I wonder if that has anything to do with Prince's resignation? Nah. I'm sure he just wants to spend more time with his family. Whatta guy.

[Update: Does anyone else out there feel like hauling the guillotines out of storage when thinking about these compensation packages? One way or the other, these f*ckers have to be brought to justice.]