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DODD STATEMENT ON CITIGROUP PAY HIKES

June 24, 2009

WASHINGTON – Today Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement in reaction to news that Citigroup, a recipient of significant taxpayer funds under the Troubled Assets Relief Program, was announcing pay hikes. 
 
Yesterday the Bureau of Labor and Statistics announced that in May there were 2,933 mass layoff actions involving 312,880 workers. Mass layoff events and initial claims rose to their highest levels on record. The national unemployment rate was 9.4%.
 
“They just don’t get it,” Dodd said.
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