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More on Citigroup (C) Q4 earnings: New CEO Tom Corbat "kitchen sinks" the quarter to clear out...

More on Citigroup (C) Q4 earnings: New CEO Tom Corbat "kitchen sinks" the quarter to clear out the decks for his tenure as Citi becomes the only major bank to report a big miss on the bottom line. "(Earnings) reflect an environment that remains challenging, with businesses working through issues like spread compression and regulatory changes as well as the costs of putting legacy issues behind us." It's been awhile since a bank chief sounded so dour. Shares -4.5% premarket. (PR)
Comments (7)
  • ComputerBlue
    , contributor
    Comments (726) | Send Message
     
    So much for everyone jumping off the BAC wagon and getting on C's!
    17 Jan 2013, 08:14 AM Reply Like
  • Okatie Jack
    , contributor
    Comments (92) | Send Message
     
    This was expected with a new CEO.
    17 Jan 2013, 08:36 AM Reply Like
  • ComputerBlue
    , contributor
    Comments (726) | Send Message
     
    I might actually start a new position in C if it drops far enough. I was in and out last year and sold too soon.
    17 Jan 2013, 08:46 AM Reply Like
  • JTU
    , contributor
    Comments (27) | Send Message
     
    Tom Corbat is aggressively cleaning up the books so that 2013 earnings will be much better and will reflect on his management skills.
    17 Jan 2013, 09:55 AM Reply Like
  • june1234
    , contributor
    Comments (2556) | Send Message
     
    C missed both on earnings and revenue(their old CEO knew when to leave) while BAC missed on revenues and both banks you have to assume are big recipients of Feds $40b a month MBS purchases. Dollar just doesn't go as far as it used to
    17 Jan 2013, 10:54 AM Reply Like
  • holydawn
    , contributor
    Comments (127) | Send Message
     
    lol, don't believe their old CEO was "allowed" to leave as much as he was shown the door.
    17 Jan 2013, 01:23 PM Reply Like
  • cdeter
    , contributor
    Comments (13) | Send Message
     
    ".And this to shall pass"
    17 Jan 2013, 02:06 PM Reply Like
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