There is some very popular anger over the AIG move to pay its top executives large bonusses. Each and everybody ended up criticizing the move. However, there are some supporters as well for that very unpopular move and Citi CEO Vikram Pandit is one of them.

The Citigroup CEO Vikram Pandit  has distributed a memo to the company’s employees that criticizes the prevailing mood. The memo urged them to “continue to work hard helping clients and customers.”  The memo shoots at the legislation passed on March 19th  in the House of Representatives that slapped a tax of up to 90% on bonuses given to highly paid employees of companies that receive federal funds. The legislation was rushed through the House following the  uproar over the AIG bonus plans. 

Vikram Pandit said to his employees that “Our industry has recently seen a tide of negative sentiment rising in Washington, D.C., regarding compensation. Of course, some of it is warranted. But I take exception when there is a discussion about spreading the blame to each and every employee in the financial-services industry. At our company, we removed the people responsible for Citi’s financial distress and acted fast to strengthen and streamline the business, and install new risk processes and new risk personnel. You have been invaluable in our collective efforts to put the company on solid footing.”

Some solid support that!