Citigroup Inc.'s chairman and chief executive won't receive bonuses for 2008, as part of a series of moves the company announced Wednesday as it formalized its bailout agreement with the U.S. government.

Citigroup Chairman Win Bischoff and CEO Vikram Pandit, along with director and senior counselor Robert Rubin, are foregoing their annual bonuses. Bonuses for other top executives will be "reduced substantially," Mr. Pandit said in a memo to Citigroup employees Wednesday.

Are we supposed to be impressed by this? Amazed to the point of clapping hands? Nigga, please!!!