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A house built on Sandy
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Citigroup is bleeding even as the government has ringfenced $300 billion in bad assets and its not likely to go under. The next step may be to get these bad assets into a bad bank as Bernanke has suggested. Citigroup is now divesting many of the assets like Smith Barney that were hastily put together by Sandy Weil as some kind of financial supermarket. None of the companies with their separate cultures melded together, and managing this was a huge undertaking which never really got off the ground. Now its all coming apart and Citigroup will go back to its core assets.
Government Bailout of Citigroup.
11/26/2008
The government bailout of Citigroup as it posts huge losses and its stock price sinks.
Grouped Articles
Citigroup Hits 'Penny Stock' Realm
Wall Street Journal 03/06/2009
Wall Street Journal 07/15/2014
How Citi's Fortunes are Tied to Housing's
BusinessWeek 11/26/2008
H-P, Citi Debt Offerings Bring in Billions
Wall Street Journal 12/03/2008
Citigroup Takes First Step Toward Breakup
Wall Street Journal 01/10/2009
Citigroup Ready to Shrink Itself by a Third
Wall Street Journal 01/14/2009
Citigroup and the writedown for Smith Barney in 2012
01/15/2009
Grouped Articles
Citigroup Faces Smith Barney Hit
Wall Street Journal 02/22/2012
Federal Reserve Sets Citi Limits
Wall Street Journal 03/14/2012
Three Major Banks Prepare for Possible Credit Downgrades
New York Times 03/29/2012
Less-Stressed Pandit Puts Fed Behind Citi
Wall Street Journal 04/17/2012
Citigroup's Earnings Plummeted in Third Quarter on Writedown
New York Times 10/15/2012
Citi's Improved Baggage-Handling Skills
Wall Street Journal 10/15/2012
Citigroup strategies
01/15/2009
Grouped Articles
Citi's Profit Soars as Shift Pays Off
Wall Street Journal 04/16/2013
More Lights Switch On in the Citi
Wall Street Journal 04/16/2013
Citi CEO: Bank's Major Restructuring Is Over
Wall Street Journal 04/24/2013
Wall Street Journal 07/16/2013
Growth in Emerging Markets Lifts Citigroup's Profit by 42%
New York Times 07/15/2013
Citigroup Dialing Back Its 'Alternative' Holdings
Wall Street Journal 09/03/2013
The Citigroup Rescue in November 2008.
11/13/2008
A Morgan Stanley type bear raid by short sellers on Citigroup shares with 50% of share value lost in a few days. Pandit of Citi desperately asks for reinstatement of the uptick rule to prevent short seller raids.
Grouped Articles
Citigroup Hits 'Penny Stock' Realm
Wall Street Journal 03/06/2009
U.S. Settles Mortgage Inquiry for $7 Billion
New York Times 07/14/2014
Old Lane Managers Look for Exit From Citi
Wall Street Journal 12/24/2008
Citi Directors Mull Replacing Chairman
Wall Street Journal 11/13/2008
Worst May Be Yet to Come for Citigroup
New York Times 11/14/2008
New York Times 11/16/2008
A Citigroup restructuring plan, and bank restructuring plans that were never developed by Treasury Secretary Geithner for President Obama
01/02/2009
Ron Suskind documents the making of key economic decisions in the Obama White House from 700 hours of interviews in his new book released in Sept 2011: "Confidence Men: the Obama White House, Wall Street and the Education of a President." In the book he says Obama asked Geithner to develop a plan for restructuring Citigroup after the bailout of Citi. A month later he followed up in a meeting, and was told by Romer at a meeting Geithner did not atttend, that no plan had been developed. The President's response was "it better be." Geithner says he was asked to do so but "fortunately there was never a need to put them in place."
Grouped Articles
New York Times 05/16/2010
A Conflict in Geithner's New Job- Not Exactly
New York Times 11/18/2013
Charlie Rose Talks to Robert Reich
BusinessWeek 10/21/2010
A Stress Test for the Latest Bailout Plan
New York Times 02/14/2009
Citigroup Hits 'Penny Stock' Realm
Wall Street Journal 03/06/2009
Obama, Geithner Get Low Grades From Economists
Wall Street Journal 03/11/2009
Citigroup efforts to to reduce risky assets- 2011-2015
01/15/2009
Grouped Articles
Quiet Boss at Citigroup Setting Tone for Wall Street
New York Times 12/01/2013
Wall Street Journal 02/07/2014
Failing Stress Test is Another Stumble for Citigroup
New York Times 03/27/2014
Citigroup Sells Stake in Turkish Bank for $1.16 Billion
New York Times 03/05/2015
Test Results Bring Relief to Citigroup
Wall Street Journal 03/13/2015
Shrunken Citigroup Illustrates a Trend in Big U.S. Banks
New York Times 04/15/2016
Glass Steagall, the "Citigroup Authorization Act," and Sanford Weill
01/15/2009
Sanford Weill pushed hard for repeal of the Glass Steagall Act, so much so that the legislation to repeal it was called the Citigroup Authorization Act. Weill said in July 2012 that the times had changed and he regretted repeal of Glass Steagall. He called for a breakup of the biggest banks because the experience of the housing bubble and the financial crisis had proved that this posed too many risks.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
New York Times 04/10/2009
Wall Street Journal 07/15/2014
Big-Bank Pioneer Now Seeks Breakup
Wall Street Journal 07/25/2012
Sandy Weill Regrets Breaking Glass
Wall Street Journal 07/26/2012
Weill Calls for Splitting Up Big Banks
New York Times 07/25/2012
Citigroup strategies under CEO Pandit
12/24/2008
Grouped Articles
Old Lane Managers Look for Exit From Citi
Wall Street Journal 12/24/2008
Wall Street Journal 07/16/2012
Citi Looks Toward Developing World
Wall Street Journal 07/17/2012
Citi Is Ramping Up Its Succession Planning
Wall Street Journal 08/03/2012
Wall Street Journal 09/26/2012
Citigroup's Earnings Plummeted in Third Quarter on Writedown
New York Times 10/15/2012
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