nakedcapitalism.com - 11/24/2008
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The New York Times has a solid bit of reporting tonight by Eric Dash and Julie Creshwell, " Citigroup Pays for a Rush to Risk ," that seeks to explain why the giant bank got itself in so much trouble. The piece points to the usual culprit, too much risk taking, but the particular Citi flavor ...
online.wsj.com - 11/23/2008
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online.wsj.com —
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 ...
(more)
Citigroup, U.S. in Talks to Create 'Bad Bank'
federalreserve.gov - 11/24/2008
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federalreserve.gov —
Joint Statement by Treasury, Federal Reserve, and the
FDIC on Citigroup Washington , DC -- The U.S.
government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth. In support of this ...
(more)
FRB: Press Release--Joint statement by Treasury, Federal ...
online.wsj.com - 11/24/2008
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Sunday links: survival mode
Abnormal Returns —
... The last best hope for Citigroup (C): good bank, bad bank. (NYTimes.com, WSJ.com,
Finally the one of the few constants at Citigroup over the past few years, Bob Rubin, is coming under scrutiny. (Market Movers, naked capitalism)
Many hedge funds are in “survival mode.” (WSJ.com)
“There has, in other words, been nowhere to hide from the collapse of 2008.” ...
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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
repeatedly backed the company's "universal bank" model. But with
directors and executives now bracing for a fourth-quarter operating
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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 ...
What About Bob?
ritholtz.com 11/23/2008 — The New York Times tackles the Rubin issue head-on. Buried in today’s re-cap of how Citigroup got itself into the current mess is an indictment of Robert Rubin’s role at the bank. [Emphasis is mine]:
As chairman of Citigroup’s executive ...
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 ...
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. >
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finance.yahoo.com 4/2/2009 — provided by wsjlogo.gif Beaten-Down Shares Hard to Resist; 'My Opportunity to Make Some Money' The old Wall Street adage about the dangers of catching a falling knife doesn't seem to be scaring individual investors away from Citigroup Inc. Some ...
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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