American capitalism has now become rotten to the core.Citigroup, Goldman Sachs, Wall Street Bailouts and the Tolling of the Bell For America's Meritocracy. Gone is its unique sense of fair play and adherence to a level playing field, accessible to all. In late 2007 and the early days of 2008 Citigroup announced they were cutting 4200 jobs. This happened shortly after Vikram Pandit, while just six weeks on the job as Citigroup's CEO, was awarded a $26.7 million stock bonus and $3 million in stock options. It also happened as the bank was set to announce that, by the end of 2007, it was already holding $18 billion in mortgage backed toxic assets.Lee Raymond, retiring CEO from Exxon with a $400 million golden parachute culminating a career whose grim achievement was to preside over the largest cog in an industry whose rapacious profits resulted from Americans paying over $4.00/gallon
