The Wall Street Journal reports that Citigroup's (C) compensation plan is getting panned by CLSA analyst Mike Mayo, sending shares fractionally lower. Mayo, who the Journal says has been a sharp critic of the bailed out bank, criticized the compensation plan tyying executive bonuses to a target for cumulative pre-tax income this year and in 2012 of $12 billion, calling the target a "very low hurdle." Citigroup shares are down 0.32%, or $0.01, to $4.68.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up