AN American banker received a $42 million payoff from his Wall Street bank just months before it had to be rescued by the US taxpayer, Times reports. Michael Klein, a former vice-chairman of Citigroup, is a long-time confidant of the prime minister who helped to draw up the plan whereby the British taxpayer took massive stakes in some of the country’s biggest banks.
Last July Klein, 45, quit the New York financial giant, scooping one of the largest severance packages in US corporate history. Four months later Citigroup, facing bankruptcy, was forced into a humiliating deal with the US government which put in $45 billion of emergency capital.
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