Despite having dipped deep into the taxpayer trough for bailout funds, Citigroup wants permission to pay massive bonuses. Citi's energy trading unit, Phibro, paid its chief, Andrew Hall, $100 million last year. (Marketplace). A former Citi exec, now a B-school prof, told Marketplace that "These individuals are generating large profits, and frankly that's going to help share price and help repay taxpayers." And according to the WSJ, Treasury Secretary Geithner hasn't yet decided what to do, but "Executives are describing the bonuses as "retention" awards to perk up demoralized employees who the company worries are vulnerable to poaching by rival firms, people familiar with the matter said."

Well, employees may be demoralized, but taxpayers are outraged, Mr. Secretary, and wouldn't look kindly on their money going to massive bonuses at a failed bank that the taxpayers own a large chunk of.

Meanwhile, reform colleagues at SEIU held "Fire Ken Lewis" protests at Bank of America's annual shareholder meeting in Charlotte (NC), in DC and at bank branches around the country (Hartford Courant).