Citigroup

"Citigroup and Morgan Stanley are rolling the marriage dice. The result is a Smith Barney, Morgan Stanley Merger that will create the largest broker network.

(NYOAG) NEW YORK, NY (December 11, 2008) - Attorney General Andrew M. Cuomo today announced Assurances of Discontinuance with UBS Financial Services, Inc. and UBS Securities LLC (“UBS”) and Citigroup Global Markets, Inc. (“Citigroup”) in the auction rate securities settlements reached earlier this year. The Assurances detail how liquidity will be provided to consumers who purchased auction

Citigroup Inc. will slash some 1,000 jobs at its Japanese brokerage unit as part of the ailing U.S. banking giant's efforts to survive the financial meltdown, a report said Wednesday.Nikko Cordial Securities Inc. will cut its work force through early retirement, and some 1,000 employees, mostly those aged above 40, have accepted severance offers, Kyodo News agency said, citing no sources.The Japan

The $10 trillion of financial bailout policies in progress around the world will result in gold exceeding $2,000 an ounce, according to an internal client note from the US bank Citigroup obtained by The Daily Telegraph. It argued that radical policy options being taken by governments would end in one of two extreme ways: with [...]

Citigroup, once the world’s largest bank (through its flagship retail bank Citibank), is now in a bailout deal involving some $20 billion injection by the US Treasury. It is an agreement struck in a move to prevent the ailing company from continuing its slump into the financial oblivion, and straight into bankruptcy. Recently, Citigroup has also been [...] Related posts:Citigroup Ready to

The government's huge bailout of Citigroup could fail to restore investor confidence, says a noted finance professor. Previous government rescues of financial institutions like AIG and Morgan... Your News is the place where wonderful, funny, and amazing things exist. This blog delivers informative news in the easiest way.

NYC - Citicorp CenterOriginally uploaded by wallygFirst, A Song For The Money Going To Citigroup and Everyone ElseI want to open this post with a throwback to 1932, when people who had gotten used to the working life, were suddenly relegated to standing in breadlines for food. Written by E.Y. Harburg during the Great Depression, the title reminds me of what is currently going on in the financial m

SÃO PAULO - Na manhã desta segunda-feira (24), os contratos futuros dos principais índices de ações norte-americanos negociados na Chicago Mercantile Exchange, como o S&P 500 e o Nasdaq 100, indicam uma abertura em alta das bolsas dos EUA.Diante das perdas correlacionadas com a crise de crédito, o governo norte-americano resgatará o Citigroup, através de duas medidas: segurança pelo F

Stocks soared Monday, after the news over the government's rescue plan for Citigroup. The plan involves a $20 billion direct investment in the company, and a guarantee towards $306 billion of its troubled assets. Under the agreement, Citigroup must get executive compensation plans approved by the government and must not pay shareholders dividends larger than $0.01 without government approval.

Unlike the big three (General Motors, Chevrolet and Ford), Citigroup was given a financial bailout assistance worth $20 billion as the government lent a helping hand to save the stricken bank from billions of dollars that could have totally been catastrophic. Stocks reacted as well as Dow Jones industrial shot up 300 percent. And so the [...]

Las mejores ofertas para tus vacaciones en Viajes Marsans El Gobierno de EEUU inyectará 20.000 millones de dólares en el Citigroup, uno de los mayores bancos del país y que ha sido sacudido por la crisis financiera, para "apoyar la estabilidad del mercado", indicó la Reserva Federal (Fed) en un comunicado. El acuerdo para el rescate del Citigroup se produjo el domingo y fue anunciado conjunt

The US government is close to finalising a rescue plan for Citigroup, whose stocks have been battered in recent days over worries about its financial health, but the fate of its Indian American CEO Vikram ...

NEW YORK - LESS than two months ago, Citigroup emerged from the wreckage of the financial crisis as one of the last titans left standing on Wall Street.Now, in a stunning turnabout, the banking giant has fallen to its knees after a crisis in confidence erased half its stock-market value in three days - and left it running short on time and options.The bank has started talks with the United States

In one of the famous Citigroup Town Hall Meetings held this morning by CEO Vikram Pandit, job cuts totaling 50,000 were announced, 20% cost cuts and plans to sell troubled assets. The 50,000 number is second only to the 60,000 cut by IBM back in 1993. Not that problems are unique to Citigroup, but these announced cuts are more than the entire sector has combined to cut over the last four months. I

Citigroup announced that they would be laying off 53,000 workers yesterday.  Citigroup has already laid off 23,000 employees earlier this year. Citi has lost 20 billion dollars over the past year and has had four straight quarterly earning losses. Citigroup is on its third CEO in the last year. Citigroup has watched its stock price decline to $8.00 per share [...]

Citigroup on Monday announced to cut about 53,000 jobs for the coming months and slash its expenditure by 20 percent next year.For More Information: Citigroup

NEW YORK (AFP) - - Citigroup said Monday it was slashing a near-record 50,000 jobs worldwide as the US banking giant tightens its belt further to cope with a global financial crisis and heavy... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Probably the biggest hit in today’s financial news is Citigroup’s proposal to cut workforce by . This is really what has inspired me to begin this blog today… for the global banking giant, this represents about a 15% reduction in headcount, more than a modest downsizing intiative in my opinion. Citigroup reached peak headcount toward [...]

Citigroup CEO Vikram Pandit announced, the bank is planning to eliminate 52,000 positions due to a surge in loan losses. Citigroup's stock is currently trading at its lowest level in 12 years on concerns that a global recession will cause further losses.

"Citigroup's announcement today that it will cut an additional 50,000 jobs is a sad and disturbing development for the company. As Citigroup suffers, so too do investors, employees, and taxpayers. At the very least, Citigroup should follow Goldman Sachs' lead and announce quickly that top executives will not be receiving bonuses this year. Citigroup's stated intention to wait until the new year to

In an unfortunate turn of events, Citigroup revealed it's plan to cut around 58,000 jobs to help the company adjust better to current economic crisis. These layoffs are planned in addition to 23,000 jobs already eliminated since January 2008. Overall CitiGroup laid off about 300,000 Jobs world wide since the January 2008. Cost Cut is major concern as credit market squeezes. Citigroup is expected

As reported by CNNMoney.com - "Citigroup to cut more than 50,000 jobs":Citigroup said Monday it planned to cut more than 50,000 jobs, the latest move by the struggling bank to cut costs in order to weather the credit crisis plaguing Wall StreetIn an investor presentation on its Web site, the company said it would reduce its staff levels to approximately 300,000 employees. As of the end of Septembe

American homeowners heading for foreclosure may put their hopes on a new project designed by Citigroup. The company has joined forces with Federal Deposit Insurance Corporation (FDIC), Morgan Stanley Chase, and other large banks to help mitigate property foreclosure problems hounding single families.

Citigroup is planning to cut nearly 10 percent of its workforce as the troubled bank tries to return back to profitability. This week the company's stock fell below $10 for the first time in 13 years, and the bank is planning to sell off nearly $400 billion in assets.

I’ve been tweeting that I’m hoping for a share price below $10 for Citigroup for about 5 weeks. Finally, it came and I logged into my Scottrade account and loaded up on some. Investing with so little may seem like a bad move but the money is sitting in my Roth IRA doing nothing as I [...] Related posts:Please Keep The Markets Falling I’ll probably receive a bunch of dirty looks from th

Citigroup (C) CEO Vikram Pandit will have an employee meeting on Monday in the hope that he can calm concerns that the huge financial company is falling apart.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

According to Bloomberg, Citigroup Inc. Chief Executive Officer Vikram Pandit sought to reassure employees today, saying in an internal memo that the bank's... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Citigroup Chief Executive Vikram Pandit and his deputies have instructed managers to slash their budgets for employee compensation by at least 25 percent, the paper said citing the sources. The moves come as Pandit tries to stabilize the financial giant, which has reported net losses of more than $20 billion over the past year, the WSJ reported. Spokeswoman Christina Pretto said Citigroup continue

Perhaps it is a remarkable failure of imagination or just animal panic. A day after Citigroup (C) hit a multi-year low and spent time below $10, CEO Vikram... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Shares of Citigroup fell to their lowest levels in 13 years as the global economy continues to plummet. Citigroup's shares have dropped nearly 70 percent this year, and still has billions in exposure to bad debts. The company is expected to face significant losses related to its Credit Card and Auto Loans.

Citigroup's (C) CEO Vikram Pandit has cemented his reputation as the worst CEO of the new breed of men who replaced the remarkably careless and callous... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

As reported by MarketWatch - "Citi unveils housing relief plan - Banking giant steps up efforts to avoid foreclosures":Citigroup said that under the Citi Homeowner Assistance program, it would preemptively contact 500,000 mortgage holders -- involving $20 billion of mortgage balances -- to try to ensure that they can pay their loans. It said it is focusing on borrowers who live in areas that are l

Goldman Sachs repeated its opinion that Citigroup (C) is a "sell" and probably would not make a cent until late in 2009. Goldman claims that credit markets are... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

CITIGROUP, WACHOVIA’YI SATIN ALMAKTAN VAZGEÇTİ WASHINGTON (A.A) - ABD’de sıkıntıdaki bankalardan Wachovia’yı satın alma konusunda Citigroup ile Wells Fargo bankaları arasında günlerdir devam eden mücadele sona erdi ve Citigroup, Wachovia’yı alma çabasından vazgeçtiğini açıkladı. Wells Fargo’nun da, borçlarıyla birlikte Wachovia’yı 15 milyar

CITIGROUP, WACHOVIA’YI SATIN ALMAKTAN VAZGEÇTİ WASHINGTON (A.A) - ABD’de sıkıntıdaki bankalardan Wachovia’yı satın alma konusunda Citigroup ile Wells Fargo bankaları arasında günlerdir devam eden mücadele sona erdi ve Citigroup, Wachovia’yı alma çabasından vazgeçtiğini açıkladı. Wells Fargo’nun da, borçlarıyla birlikte Wachovia’yı 15 milyar

CITIGROUP, WACHOVIA’YI SATIN ALMAKTAN VAZGEÇTİ WASHINGTON (A.A) - ABD’de sıkıntıdaki bankalardan Wachovia’yı satın alma konusunda Citigroup ile Wells Fargo bankaları arasında günlerdir devam eden mücadele sona erdi ve Citigroup, Wachovia’yı alma çabasından vazgeçtiğini açıkladı. Wells Fargo’nun da, borçlarıyla birlikte Wachovia’yı 15 milyar

Citigroup has agreed to walk away from stiff negotiations with Wells Fargo to divvy up Wachovia. The company still plans to actively pursue damages on the behalf of its shareholders. Citigroup had first agreed to acquire Wachovia and even provided some initial funding; however, later the same week Wells Fargo made its own offer for the struggling bank.

Citigroup reported Monday that it has filed a lawsuit with the New York Supreme court against both Wachovia and Wells Fargo as well as the directors of both companies for $60 billion in damages for interfering with the bank's planned acquisition. Wachovia believes its agreement with Wells Fargo is still valid and in the best interest of its shareholders. Federal Officials have been urging the co

Now that Citigroup (C) has botched its takeover of Wachovia (WB) it hopes to turn to the US court system to be its savior. Wells Fargo (WFC) moved in under the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Charlotte, N.C.-based Wachovia says it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal. However, New York-based Citigroup now demands that Wachovia abide by the terms of its earlier deal to acquire Wachovia's banking operations. According to the Citigroup, its agreement with Wachovia provides that Wachovia will not enter into any transaction with

Vikram Pandit has been the CEO of Citigroup (C) for ten months. The only thing he has done right is collect $216 million in compensation. Much of that was for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

In an all stock deal, Citigroup acquired Wachovia's banking division. Citigroup is planning to raise $10 billion in stock sale as well as cutting its dividend in half in order to preserve capital. As part of the agreement Citigroup will receive Wachovia's deposit network giving it more then $600 billion in deposits in the U.S.

La crisis financiera sigue provocando nuevas ‘víctimas’. El gigante Citigroup adquirirá las operaciones bancarias de Wachovia, el cuarto banco de EEUU, en una operación propiciada por las autoridades de EEUU. “Para los clientes de Wachovia, la operación asegura la continuidad ininterrumpida del servicio de su banco y una protección total de todos los depósitos”, afirm

Related searches:wachovia bank, wachovia news, citigroup, wachovia merger, wachovia citigroup, Wachovia-securities,stock quote,buyout,bank failure,shareholders,sold[Source]Citigroup reached an agreement early Monday morning to acquire the banking operations of the Wachovia Corporation after making a daring bid that pulled the deeply troubled company from the brink of collapse.Citigroup will pay $1

Are AG Edwards and Evergreen Investments part of the Wachovia buyout today by Citibank? Citibank’s buyout involves banking operations of Wachovia, but AG Edwards and Evergreen Investments will not be part of the buyout today and remained owned by Wachovia, claims reports. Citigroup is acquiring assets and liabitlieis, retail operations, Wachovia’s corpoate and private bank and [...]

MAP! Here is a picture map of the Wachovia bank locations in the Citigroup buyout today. The bank locations of Wachovia will give Citigroup a huge banking presence across the U.S. Wachovia says of its banking locations on its website: “Wachovia offers a full array of banking and financial services including free checking accounts, savings accounts, [...]

CITIGROUP will buyout Wachovia. Citigroup announced a buyout of Wachovia brokered by the FDIC moments ago. All Wachovia bank locations will be in the Citigroup merger to prevent failure of Wachovia. The buyout by Citigroup stopped any bank failure by Wachovia. The buyout is described by Federal Reserve Chairman Ben Bernanke in a statement Monday, that [...]

The Wells Fargo surpassed Citigroup in market Cap and became the third U.S. bank more valuable. The stock closed the day at $31.17 which gave it a market capitalisation of around 103.14 billion of dollars. Citigroup closed at 18.88 which give it a market capitalization of just 102.81 billion dollars. This institution remains, however, as the largest bank by assets. According to Bloomberg, two year

If the markets are to take bond guru Bill Gross at his word, the world's financial markets could go through a cataclysmic failure. The head of fixed income... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

A equipe do Citigroup reduziu suas estimativas de lucro para os bancos Lehman Brothers, Goldman Sachs e Morgan Stanley, diante das perspectivas de mais baixas contábeis às financeiras norte-americanas.

MUMBAI: Citigroup’s attempt to sell its captive BPO arm Citigroup Global Services (CGSL) is gathering momentum. Tata Consultancy Services (TCS) is close to acquiring CGSL (formerly e-Serve) racing past IBM, which was leading the race till recently. The deal size is expected to be pegged at $500-$550 million. An announcement to this effect is likely to be within three weeks.Confirming this, a sou

Financial stocks went down Thursday as Citigroup agreed to to buy back nearly $7 billion of auction-rate securities it sold to its customers as well as pay an additional $100 million in penalties as part of the settlement. The settlement sends a warning across the industry that financial institutions will have to pay the price for misrepresentations in marketing and selling of securities.

As Citigroup earnings posts better than forecast earnings, the USD took off across the board.  With a lack of major data planned for today, we’ll see if the USD can hold these gains. Citigroup posts $2.5 billion second-quarter loss Mortgage Giant Freddie Mac Considers Major Stock Sale Merrill Lynch Posts Fourth Straight Quarterly Loss Google, Microsoft Slide; Earnings Show [...]

LONDON, July 18 (Reuters) - Stocks trimmed earlier losses and the dollar rose while European government bond futures hit session lows on Friday after Citigroup (C) reported better-than-expected results for the second quarter. Citi reported a second-quarter loss per share of $0.49, higher than forecasts of around $0.61-67. It took credit costs of $7.2 billion [...]

Reports Q2 (Jun) loss of $0.49 per share from continuing operations, $0.17 better than the First Call consensus of ($0.66); revenues fell 29.2% year/year to $18.65 bln vs the $17.55 bln consensus. Co said that results in the core franchise were offset by write-downs and credit costs. Results include $7.2 billion in pre-tax write-downs in [...]

NEW YORK (MarketWatch) - Citigroup, the nation’s largest bank by assets, said on Friday that it lost money for the third consecutive quarter after writing down $7.2 billion of investments. The company said it lost $2.5 billion, or 54 cents a share, compared to a profit of $6.23 billion, or $1.24 a share. On a continuing operations basis, the [...]

Citigroup's (C) CEO, Vikram Pandit, wasted the time of three dozen or so of his top executives. He took them on a retreat and laid out what he called “Rules of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Student Loan Corp, a division of Citibank, plans to cut 89 jobs from its Perinton operation, the company said Thursday.The jobs represent almost one-quarter of Student Loan's local employment and their elimination is part of a company-wide restructuring and cost-cutting effort. Overall, 174 jobs are being cut, including some at Student Loan headquarters in Stamford, Conn., and at Citibank in South

Shareholders at Citigroup (C) have been begging new management to auction off as much of the bank as the new CEO can find. They reckon that is the only way to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Emisora: CitigroupClave: CAsunto: Compra especulativaHorizonte de inversión: Corto plazoEvento a seguir: Rebote técnico/doble fondoStoploss: USD$16.25/$170.00Objetivo: USD$22.60/$235.00Riesgo: Muy AltoNuevamente, las opciones riesgosas nos tientan... El día de hoy Citigroup tuvo una jornada positiva, durante la cual logró acumular una ganancia intradía de casi 4%. Su comportamiento parecía m

Citigroup (C) has decided to change its bonus structure so that senior management will be paid on the results of the entire bank instead of the success of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

By Philip AldrickLast Updated: 12:01am BST 28/06/2008Barclays' £4.5bn fundraising falls about £9bn short of what is necessary to absorb credit-related writedowns and bring the bank's capital in line with European peers, Citigroup claims in a note to clients.The British bank's shares came in for more heavy selling following the note, dropping to 289½p at one stage yesterday before ending the day

Goldman Sachs researchers have decided that Citigroup (C) could lose another $9 billion in the second quarter. The big money center bank does not have that... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Citigroup announced today plans to cut nearly 10 percent of all of its investment banking jobs. The cut effects over 6,500 current employees. Despite over $15 billion in write downs, the company is expected to release billions more in losses when it reports its second quarter earnings.

Citigroup (C) came clean about what everyone with any sense already expected. Write-offs at the money center bank are not over. According to The Wall Street... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Emisora: CitigroupClave: CAsunto: VentaHorizonte de inversión: Corto plazoEvento a seguir: Confirmación de doble fondoStoploss: USD$18.65/$190.00Objetivo: USD$27.00/$280.00Riesgo: AltoACTUALIZACIÓN19-Jun-2008.- Ante las nuevas noticias de que Citi podría registrar "sustanciales" amortizaciones emandas de la crisis hipotecaria, tomamos pérdidas en C. Además, con la baja de hoy, el doble fond

Citigroup Hedge FundCitigroup Hedge Fund FailureIn a ironic turn of events super-bank Citigroup has decided to close down the hedge fund which current CEO Vikram Pandit founded and sold to Citigroup less than a year ago.“Clients have gotten more selective,” Ned Kelly, Citigroup’s new head of alternative investments, told DealBook. “They want discrete hedge fund strategies and it is easier

Ethanol stocks appear to be under pressure this morning. Citigroup has downgraded the group to a SELL rating, partially based upon the Midwest flooding.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

One of the hedge funds that Citigroup (C) bought from its CEO Vikram Pandit's money management company, an operation called Old Lane, has gone belly-up. Pandit... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Meredith Whitney of Opperheimer covers financial stocks, but she clearly hates them. At least for the time being. She is no making the point that as MBIA (MBI)... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Citigroup Receives 1st Round Of Bids For Primerica -Reuters Last Update: 6/6/2008 12:32:38 PM DOW JONES NEWSWIRES Citigroup Inc. (C) has received its first round of bids for its Primerica unit, Reuters reported Friday, citing sources. The unit has drawn interest from life insurance and private equity companies. The value of the unit is about $7 billion and a deal could [...]

S&P affirmed its ‘AA-/A-1+’ credit rating on Citigroup Inc. and its ratings on Citigroup’s units. Standard & Poor’s also said that it removed all these ratings from CreditWatch, where they were placed on April 15, 2008, with negative implications. The outlook on all these companies is negative. “Despite the challenges facing Citigroup over the next [...]

The Ho Chi Minh City Stock Exchange announced on its website that Citigroup Global Market Ltd. and Citigroup Global Market Financial Product Ltd. had bought 27,030 shares in Seafood Joint-Stock Company No. 4 (TS4) to raise their stake to 14.29% from 13.97%. The US bank’s subsidiaries had also cut their holdings in... [[ This is a content summary only. Visit my website for full links, other con

Citigroup To Shut 2 UK Personal Loan Ops; May Cut 650 Jobs Last Update: 5/19/2008 5:11:25 PM LONDON (AP)–Citigroup Inc. (C) will close two of its U.K. personal loan operations and could cut more than 650 jobs, the embattled banking giant said Monday. Citi UK said that from Wednesday it will also stop offering loans through its Future Mortgages and CitiFinancial [...]

First Resources rose as much as 6.2 percent after Citigroup said in a broker note it expects the firm to post a strong first-quarter net profit. Shares of the Indonesian-based plantation firm... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

SINGAPORE, May 12 (Reuters) - First Resources rose as much as 6.2 percent after Citigroup said in a broker note it expects the firm to post a strong first-quarter net profit. Shares of the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

CEO Vikram Pandit plans to reduce its current assets by nearly $400 billion within the next three years. The will make Citigroup no longer be the largest bank. The bank currently owns around $2.2 trillion in assets, and has already announced plans to reduce its assets by $65 billion.

A few years from now we will be discussing how wise it was for Pandit to come into Citi and not immediately begin to run around selling assets and chopping head. With the street screaming for the bank to be instantly broken into pieces, Pandit instead stuck to a very measured plan of selling inconsequential assets, raising capital and doing a thorough top to bottom review. Now, the downside to that is the stock stays stagnant or drops as impatient investors sell wanting satisfaction... Continued at Todd Sullivan's ValuePlays

Citigroup Considers $400-Billion Asset Sale - FT Last Update: 5/8/2008 8:08:59 PM DOW JONES NEWSWIRES Citigroup will on Friday identify as much as $400 billion in non-core assets that could be sold as part of plans to reduce costs and restore profit growth to double-digit rates, according to people close to the situation, the Financial Times reported on its Web site [...]

Moody’s has downgraded the ratings of 45 tranches from 13 Alt-A transactions issued by Citigroup Mortgage Loan Trust. Seventeen tranches remain on review for possible further downgrade. Additionally, 27 tranches were placed on review for possible downgrade. The collateral backing these transactions consists primarily of first-lien, fixed and adjustable-rate, Alt-A mortgage loans. The ratings were [...]

Citigroup says most Old Lane investors to withdraw By Andria Cheng, MarketWatch Last Update: 1:37 PM ET May 3, 2008 NEW YORK (MarketWatch) — Banking giant Citigroup Inc. said most of the unaffiliated investors in its Old Lane hedge fund will opt to withdraw their investments. In April, almost all of the unaffiliated investors had notified Old Lane of their intention to [...]

Late word is that the hedge fund business that Citigroup (C) CEO Vikram Pandit sold to the bank for $800 million has lost a huge amount of its value. All of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Citigroup to raise $3 billion selling new stock By Alistair Barr, MarketWatch Last Update: 7:58 PM ET Apr 29, 2008 SAN FRANCISCO (MarketWatch) — Citigroup Inc. said late Tuesday that it is raising $3 billion selling new shares as the financial-services giant tries to rebuild capital after huge losses from the credit crunch. Citi (C) said that the offering of new [...]

The promise from Wall St. firms was implied, not spoken. The heads of operations like Morgan Stanley (MS) and Merrill Lynch (MER) said that the worst was... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Citigroup (C) started two hedge funds last year and sold interests in them to well-off retail investors. What those people were not told is that the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

The New York Times Citigroup’s directors have been re-elected, but they were shelled with criticism at Tuesday’s annual meeting of shareholders, whose stock in the bank has lost half its value since they convened a year ago. The shareholder meeting was the first for Vikram S. Pandit as chief executive. Citigroup brought him in last summer when it bought his hedge fund, and then promoted him in December to succeed the ousted Charles O. Prince III. Last year “was a year of disappointments for Citi,” Mr. Pandit told shareholders Tuesday, referring to the mortgage crisis that led to deep losses for the banking industry. Bad investments in mortgages and other types of loans have forced Citigroup to write down the value of its assets by some $38 billion over the last three qua