portfolio.com - 11/24/2008
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The vipers' nest of recriminations and finger-pointing that is Citigroup has now turned on the one man who was until now untouchable, Bob Rubin :
Citigroup insiders and analysts say that Mr. Prince and Mr. Rubin played pivotal roles in the bank's current woes, by drafting and blessing a ...
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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A Tale of Two Paulsons
Manhattan Institute Articles —
... Doug Kass, TheStreet.com Is Bank of America Next Up for a Bailout? - Doug McIntyre, 24/7 Wall St. Fool Me Once, Shame on Me. Fool Me Twice, You're Bankrupt - J. Hempton Citigroup’s Bailout: Outrageous or Courageous? - H. Moore, Deal Journal Inflation Should Be Just Around the Corner - P. Boone & S. Johnson, RTE Towards a Health-Care Fed - David Warsh, Economic Principals Finance Has Lost Sight of Its Role - Yves Smith, Naked Capitalism Did Bob Rubin Kill Citigroup? - Felix Salmon, Market Movers Every Stock Mutual Fund Has ...
Sunday links: survival mode
Abnormal Returns —
... Finally the one of the few constants at Citigroup over the past few years, Bob Rubin, is coming under scrutiny. (Market Movers, ...
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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 ...
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 ...
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
repeatedly backed the company's "universal bank" model. But with
directors and executives now bracing for a fourth-quarter operating
loss of at least ...
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 ...
WSJ Reports Citi and Government Approach New Agreement
economicdiscourse.com 2/27/2009 — The foreign markets and futures have already began to sell off on the news, they must not like this "new plan" and neither do we. Although these are preliminary reports, it looks as if the government's conversion from preferred stock to common could be limited by private investor interest (which ...
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 ...
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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