Business & Tech

'You're Fired!' Bayside Patcher Dismisses Citigroup CEO

A Bayside blogger identifying himself as a "member of the 99 percent" sends the Citigroup CEO a pink slip.

David R. Yale has traded his many deposit slips from Citibank for one pink slip.

Yale, a Bayside activist affiliated with the Moveon.org movement, and opinion , sent a Notice of Involuntary Separation to Citigroup CEO Vikram Pandit's home.

"Inasmuch as your performance as fiduciary guardian of my funds, and as a member of the community, has been unsatisfactory, you are hereby notified that your services are no longer needed,” it read.

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Yale says he closed two accounts at Citibank’s Bayside Branch, one checking and one money market. He still has a checking and savings account, which he says he is working on closing as well.

A protest in front of was organized by Yale and Moveon.org in April to they would owe the federal government, if not for 427 offshore tax havens to shelter their earnings.

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Yale says he closed the account online because he was afraid of being arrested, following an incident last month in which a group of Occupy Wall Street protesters claim they were arrested while merely attempting to close their Citibank accounts. Citibank said in a statement that only one member of the group attempted to close their account, and the branch only called the police to have them removed.

"I called Mr. Pandit's office and asked his assistant to assure me I wouldn't be arrested if I came to the bank to close my account," said Yale, adding, "She wouldn't provide that assurance. So I closed my accounts online."

Yale is also protesting a raise in bank fees. "Citibank has again raised the balance requirements so they can lock in larger and larger amounts of money on which they pay such a tiny interest rate that it's laughable,” he said. They pay 0.05% on savings accounts. But they charge up to 22.99% interest on credit cards.”

Citibank declined to comment.

Updated on Nov. 14 at 5:14p.m.


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