Dan Mitchell discusses the 100 Million Dollar Man

[robertquentincobb]

Daniel Mitchell for President! Please lord grant that one wish before I die!

[bajoverga]

Mitchell smokes em again!

[XCritonX]

One smart person is worth a 1000 idiots. Those bottom of the barrel, to stupid/unskilled, to find a job on their own, unemployed traders would sink the company.

As an entrepreneur I link pay to performance. It works every time. Every successful company in the world links pay to performance.

NOTE: If you want short term performance, link to that. If you want long term performance, than structure your rewards to link to the long term performance of the company.

[robertquentincobb]

@XCritonX  Amen!

[lordaltay5]

Rofl, this idiot wants to force Citigroup to fire a guy making 700 million a YEAR and instead hire a bunch of unemployed traders for half the cost...?

What does he think will happen in that scenario?

[Truthpolice9698]

Dan for Treasury Secretary.

This dude is so politically incorrect but does it so well. I can only marvel at his skills.

[Sondre7]

Pretty cool. Personally I'd refuse to comment on the "what should Vikram do" question. Perhaps "Vikram should tell us sitting here to mind our own business". :o)

[capitalist4life]

Go Dan!

[Surhotchaperchlorome]

See a video from ShaneDK called "putting the AIG bonuses into perspective" to get a better perspective on this issue

[StevewithUnited]

The '100 Million Dollar Man' isn't an executive... He's a trader, with a contract who is paid on performance... If he doesn't get his money, he should walk, and sue. The fact that this is a question is BS.

[a4finger]

"politicians are the least compitant people in our entire society"

I love that, and its SO true

[mcgrawtim123]

If the 100 million dollar man agrees to castration, he can keep the money.

[rescuemay]

Govt meddles ----> creates problem ----> Govt meddles to fix problem ----> creates more problems -----> Govt meddles to fix more problems insisting that this time it will get it right ----> ...

I think you see where this is going...

[RMMHS4RP]

You're right. If you haven't already, you should read an essay by Ludwig von Mises called "Middle-of-the-Road Policy Leads to Socialism."

He makes basically the same point as you and explains why it's inevitable that this is so.

[areosis]

3:55 that is a scary scary statement....

[pythos82]

If the fucking "pay czar" is not a bureaucrat then I don't know what is.

[carolyncriss]

pythos82 - re: Pay Czar - Exactly. I don't know if it's just me, but don't you feel like you've been catapulted into a sci-fi parody when you hear the words "Pay Czar"?

[pythos82]

Carolyncriss - It's definitely starting to feel like every morning I'm waking up in crazy town. Any one thing that's being done by itself could be dismissed as nothing major. But taking everything as a whole, it's getting to be crazy. And we're only 6 months in. Hopefully 2010 brings real "change".

[carolyncriss]

pythos82 "any one thing that's being done by itself could be dismissed. . ." That, oddly enough, is what gives me ----(word that lost all meaning in 2008). I would think the *way* to pull off their agenda would be to extinguish one sliver of freedom at a time, so no one notices. It's too fast. This house of cards has got to collapse.

[HubertPaetz]

'Govt using coercive power to steal money.'

Long live Daniel Mitchell

[mitchblatt1dot1com]

Isn't earning $700 million in the best interest of the company and of the country, considering that Citigroup would be able to pay us back quicker?

[torresut]

The government should stay out of private sector.

[donotswallow]

LOL at Dans face when he said it's not a special talent

[carolyncriss]

Dan Mitchell's incredulous expression when anyone says something stupid. . . priceless.

[Pvtjamesryan2]

I could use a 100 Million a year. I wonder if this guy lives high on the hog like Barack Obama.

[MagnusIan]

What is with all the people who think it's horrible to give millions to a guy who made a company loads of money? The government should stay the hell out of the private sector.

[jjrglobal]

Ask Obama the same ?

Traders that can deliver returns like this are the only thing that can bring Citi back from the dead. This guy will have no problem finding a job anywhere in the world for more than $100 mil a yr. Im sure hes paid on performance, and would have received nothing had he not delivered. The problem is people who dont know shit about finance think that anyone can do the job. They are clueless about what it takes to make 700 million.

[torresut]

Exactly!!!

[Thorbie]

Lol, judging from Obama's answer on the capital gains tax, he would rather Citi Group have $700 million less, just to enforce "fairness" on Mr. Hall's $100 million.

[soundmoneyfan]

Dan is the man!