Citigroup Makes Penny-Pincher President


Financial institutions like to make us think they’re really complicated. But in reality, they work like anything else. For instance, in our middle school, we once elected a guy class president on the strength of his plan to pay for a school dance using money saved from recycling our Styrofoam lunch trays. And at Citigroup, they’ve elected John Havens president for his plan, which was saving enough money on color copies to pay himself a $9 million bonus. Makes sense to us! [Bloomberg]