online.wsj.com - 11/23/2008
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Citigroup Inc. launched a counterattack aimed at stabilizing the company, as its executives and directors continue to wrestle with whether drastic changes are needed at the New York firm. Citigroup officials have been talking in recent days to Treasury Department and Federal Reserve officials, ...
economistsview.typepad.com - 11/24/2008
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economistsview.typepad.com —
It's bailout time. Let's start with Paul Kedrosky:
Good Bank, Bad Bank, and F---ed Bank : Apparently...
Citibank and the U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on ...
(more)
The Citigroup Bailout
bloomberg.com - 11/24/2008
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bloomberg.com —
Nov. 24 (Bloomberg) -- Citigroup Inc. , facing
the threat of a breakup or sale, received $306...
billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank after its stock fell 60 percent last week. Citigroup ...
(more)
Citigroup Gets Guarantees on $306 Billion of Assets ...
krugman.blogs.nytimes.com - 11/24/2008
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krugman.blogs.nytimes.com —
Mark Thoma has the rundown of informed reactions.
A bailout was necessary - but this bailout is...
an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will ...
(more)
Citigroup
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The Week That Was November 17 – 23, 2008
The Big Picture —
... Elsewhere, Citigroup’s (C) share price plunged by 60.4% over the week to a 16-year low as the company wrestled the financial crisis and planned to slash 50,000 jobs. According to The Wall Street Journal, “Citigroup officials have been talking in recent days to Treasury Department and Federal Reserve officials, and those discussions are expected to continue throughout the weekend …” ...
Prieur's Perspective: Financial Markets Living On a Prayer
Minyanville —
... ) share price plunged by 60.4% over the week to a 16-year low as the company wrestled the financial crisis and planned to slash 50,000 jobs. According to the Wall Street Journal , Citigroup officials have been talking in recent days to Treasury Department and Federal Reserve officials, and those discussions are expected to continue throughout the weekend. A pointed comment regarding the principle of bailouts came from ...
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Credit Risk Rises on Citigroup Breakup Speculation
globaleconomicanalysis.blogspot.com 11/21/2008 — I have been saying for over a year that Citigroup would not survive in one piece. That option is looking increasingly likely as the Citigroup Board Weigh Options . Citigroup Inc.'s board meets today to discuss the bank's options after Chief Executive ...
Citigroup - Somebody Please Say "Game Over"
informationarbitrage.com 1/14/2009 — From the Wall Street Journal Online : Until recently, Citigroup Chief Executive Vikram Pandit had
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Citi on Its Way to Breakup?
nakedcapitalism.com 1/12/2009 — The Wall Street Journal tonight says, " Citigroup Takes First Step Toward Breakup ." But what does that mean, exactly? Or had the Journal gone a bit far with the notion that the bank is doing some way, way overdue housecleaning? The eye-popping bit ...
Citigroup Bailout Raises Viability Questions For Entire Banking System
globaleconomicanalysis.blogspot.com 11/25/2008 — Still more details are emerging from the weekend bailout of Citigroup . And in what is no surprise in this corner, it appears Citigroup is not well capitalized and Faces Pressure to Slim Down . The government rescue of Citigroup Inc. reversed the ...
WSJ: Citigroup, U.S. Near Agreement on Bad Assets
calculatedrisk.blogspot.com 11/23/2008 — UPDATE2: CNBC reports: Government Now Said To Have Cold Feet From the WSJ: Citigroup, U.S. in Talks to Create 'Bad Bank' Citigroup Inc. is nearing agreement with U.S. government officials to create a structure that would house some of the financial ...
Citigroup, U.S. in Talks to Create 'Bad Bank'
online.wsj.com 11/23/2008 — Inc. is nearing agreement with U.S. government officials to create a structure that would house some of the financial giant's risky assets, according to people familiar with the situation. While the discussions remain fluid and might not result in an ...
Plan Begins to Emerge to Rescue Citigroup
nytimes.com 11/23/2008 — Federal regulators were considering a new rescue for Citigroup on Sunday, a step that could mark a third leg of the government’s broader efforts to bolster the nation’s financial industry. >
Rubin Plans to Step Down at Citigroup
dealbook.blogs.nytimes.com 1/9/2009 — Robert E. Rubin, the former Treasury secretary who is an influential director and senior adviser at Citigroup, will step down after coming under fire for his role in the bank's current troubles, The New York Times's Eric Dash reports.
Since joining ...
Bailout Monday is Back —
The Big Money 11/24/2008
Following round-the-clock weekend negotiations, the federal government late on Sunday agreed to bail out yet another bank, this time giving the troubled Citigroup a $20 billion lifeline in the form of a direct investment and guaranteeing $306 ...
Citigroup's Books Are Fiction —
The Big Money 11/24/2008
Over and over, as its stock price plunged last week, Citigroup Inc. repeated the same tired line. Citigroup has “very strong capital,” the bank kept saying.
Its capital was so strong that the New York-based lender yesterday was ironing out yet ...
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