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Cititgroup's CEO distributed a letter to its employees (or what's left of them) claiming, almost victoriously, that they turned a profit in the first two months of 2009. Congratulations, Citi! That is great to hear.
But, wait...this is the same Citi that laid off 52,000 employees, right? And the same Citi that received $45 Billion in government money (or should I say, our money, and our kids money, and our grandkids money, and our great grandkids money...)? This is the same Citi that is now partially owned by the US Government, right? So, I am confused. Could you, Mr. Vikram Pandit (CEO), please explain to me where the "silver lining" is for those 52,000 employees that you laid off in order to become "profitable"? Does that sound really profitable to you? Tell you what, Mr. Pandit, why don't you give that "profit" to those laid off employees and back to the government so generations are not having to pay for you to be "profitable". Can you say, "Smoke and Mirrors".
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