Posts Tagged ‘citi’

Citi Passes Into The Taxpayers Hands

I almost missed this one. Today, my fellow taxpayers, we all became owners of about 34% of Citi’s common stock. From Reuters: One hundred ninety-seven years, one month and 14 days after its founding, Citigroup Inc has given a roughly 34 percent stake to U.S. taxpayers. While a few technical details still remain, the bank [...]

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Some Random Thoughts On The Day

Here’s a couple of random musings on a slow news day: Did Bernanke appear overly nervous today? That was my take and I was rooting for the guy to make a good impression. The BofA-Merrill deal has become politicized and someone is going to have to pay the price. My guess is that it’s Gentle [...]

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The Problems With Bank Nationalization

For all of you nationalize/don’t nationalize aficionados out there, here are some thoughts from Economics of Contempt on the subject. The author discusses Thomas Hoenig, the President of the Kansas City Fed, and his suggestions for resolving a seizure of a large bank and its holding company.  For those of you unfamiliar with Hoenig, he [...]

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They Shoot Horses Don’t They?

Headline on the WSJ website this evening: “U.S. Weighs Further Steps For Citi” Come on guys, I’m not a big fan of nationalization or whatever label you want to put on it but it’s time to put this nag out of its misery. Clearly if this kind of talk is floating around there are intractable problems [...]

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Boondoggle Multipliers

I’m surprised there weren’t any howls out of Washington today about Citi’s plans to pay its employees for the recognition trips they missed. You remember the fuss that Barney Frank and others kicked up about several trips they had planned to warm weather locales for their high performers. Faced with his populist pomposity Citi cancelled [...]

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You Now Own Citi And Your Economy Is Worse Than You Thought

I wonder sometimes if we would be better off without the Internet, CNBC and all the other instant news sources that pound the latest bad news into our conciousness almost as it happens. Maybe all of this was easier to cope with during the Depression when it came at people in less of a rush. [...]

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FDIC Guarantees $12 Billion More Of Citi Debt: Why?

Just a quick thought here and it’s off to bed. Why did the FDIC allow Citi to issue $12 billion of debt today with their guarantee attached? Did they have no choice, is no one watching the store or does this tell us something about the government’s future plans. Best guess here is that Citi [...]

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