Citigroup failed the stress test

[byu71]

the good news is most banks passed.

In case one of your democrat lib buds comes up to you and says we are still in trouble because of President Bush and some of these dang banks, you might tell them Citi was loaded in the upper echelons with liberal democrats.

Sandy Weill was a huge demo backer. Of course Bob Rubin went straight to Citi out of the Clinton administration. Of course there was Charles Prince the Citi CEO who got a wonderful severance deal. Little know amongst the public is the big players on Wall St. probably have as many who have the dem. label behind their name as the repubs. do. I imagine a lot of that has to do with the democratic clout in NYC.

I wouldn't be surprised out side of the financial area, most CEO's probably do have republican leanings.

[Viking]

they missed by 10bps. not sure that's such a big deal other than people buying today expecting a dividend.

shitibank deserves this and all the bad karma they have.

[Moliere]

So do we get to bail them out again?

[Viking]

So do we get to bail them out again?

No they just can't distribute equity to holders/buy back stock.

[byu71]

they missed by 10bps. not sure that's such a big deal other than people buying today expecting a dividend.

shitibank deserves this and all the bad karma they have.

Yea, I know but I wanted to wack'em.

I was sitting around minding my own business working for Shearson when along came Smith Barney and bought them out. It was great. Smith Barney was a very client/broker friendly place.

Then we merged with Solomon Brothers and things became less friendly. Citi took us over and it wasn't even close to friendly.

I disliked it so much I left with $70,000 sitting in deferred comp. (Citi stock) that I forfeited when I left. Doesn't bother me so much now since the $70,000 is worth $7,000.

[Moliere]

Looks like a trader at Goldman isn't worried about burning bridges as he runs out the door...

http://www.nytimes.com/2012/03/14/op...achs.html?_r=1

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.