farmer448

Outlandish CEO Pay: How to Fix the Problem

First and foremost the companies directors and Chairman of the board should be held accountable for their fiduciary duty. If the SEC comes after a company, the board and c-level executives should be responsible for all fines. They were responsible and should be held accountable (Bank of America).
Right now directors are not held accountable for their actions.

Citigroup: A Simple Analysis of a Terribly Complex Company

I wou8ldn't touch Citicorp with a ten foot pole. It has some of the worst customer service in a business where the customer makes or breaks.

I learned a long time ago you do better in well managed companies. In this banking environment it is very important to look at the management and how customers are treated. Big should not be looked at as better.

Your analysis is exactly what I would expect from a by the numbers fellow. However, their are banks that are better managed, with better numbers that will probably produce superior returns once the over-leveraged assets are worked out. Citicorp is a zombie hoping for a second life

Where's the Derivatives Exposure?

I am a bit confused. If a derivative is a form of hedge or insurance, then why is 80% of the insurance written by 5 banks? It would seem to me that this is a heavy concentration of risk that go against the basic business principals of risk.

What's Citi Doing to Pandit?

People, I look a Citicorp like GM. Yes they say they are a bank but they treat their retail customers like turds. Customer Service is a joke. Citimortgage cannot even pay escrowed taxes on a timely basis and then blames the customer by charging the customer for the late penalties and interest. They are No 10 in all time bad customer service (MSN Money).

So why would I do business with a bank who cannot even do the basics correctly?

Thank-god their are still regional and locally owned banks....

Citigroup - Tax Preservation = Poison Pill

Now if they can only figure out how to provide customer service to their customers. They broke into the 10 worst cutomer service companies this year...
moneycentral.msn.com/c...

Banks Try to Block Regulation, Saying It Will Hamper Innovation

Maybe it is time to disallow Corporations, Limited Liability Partnerships, Limited Liability Corporations any of the rights of citizens.

Citigroup's Doomed IT Strategy

Digs,

I assume you do not do systems for CitiMortgage. What a bunch of screwups. The customer service system is a joke.
When the systems fail, customer service cannot fix it. They do not have visibility into subcontractor systems. They are only responsible for the call and not the problem. So if it cannot be solved in a call no one will fix the problem.

Cost me 114 dollars in penalties and interest to my School District to find this out. CitiMortgage says not my job even though they over collected the taxes.

The problem is not just in IT systems, but in management systems that actualy work.

Credit Cards: Do the Banks Own the Senate?

Rhetorical questions are not appreciated in a debate

Why Citi's Failure Costs More than Saving It Does

Ok, longer term, how should this concept of "to big to fail". Does this make a bank a monopoly? So maybe the Fed and Treasury need to address how big to allow a bank to grow.

Also Citicorp is really a big collection of other corporations. So why not break it up?

This and AIG seem to be nothing but a big rat hole. I understand the argument that letting them fail if a dangerous unknown due to all of the Credit Default Swaps written as insurance. But this slow contraction and ratching down of over-leveraging seems to be perceived as a slow death. No one has any confidence in what is being reported out of financial institutions.

Sorkin's Questions to Bank CEOs, Answered

How do you restore the checks and balances a true board of directors should be.

Why should CEO's be paid based on stock price. They control some but not all of the stock price. The CEO's should be paid based on the elements they control such as ROE, ROI, ROA.

Nationalizing Bank Losses

So lets see if i have this right.

If we let the banks go bankrupt and let the legal system sort out the mess then the common and preferred stock holders will get wiped out, the debt holders will be converted to equity holders (including what ever CDO's). Of course this will take time and their will be chaos and rioting in the streets because the big national banks will be in the toilet while local/regional banks will survive.

if we nationalize the banks, the management, the common and preferred sotckholders get wiped out, Bank debt holder will probably be made whole through some equity and some new debt and US citizens will be on the hook for a 30-40% haircut. (I am assuming things will be as bad as the savings and loan crisis where I have read the US took 300 billion of bad debt and recovered 200 billion.
The far right will scream we are now a socialist nation with the government replacing management. (Of course we now know all to well how the current Boards of DIrectors and Management have done in maintaining a healthy finance system)

If we continue with TARP, the management stays, the stockholders (common and preferred) get a free lunch, the debt holders are assured that they will continue to be whole, the US citizen will take 100% of the haircut and the dirty commie liberals will call it all coporate welfare.

The only problem is the government is already screwed. In the past 8 years we have more that doubled thenational debt, appointed political hacks into jobs requiring macro-economic competence and sensitivity, have a legal system that no longer respects the rule of law and I can go on and on.

So where is the reboot button?

Citigroup: Too Big to Fail or Succeed

I find it hard to invest in such a poorly managed company.

Why I Need a Government Bailout

Dear Newman Bank

Your request for 2-3 million was adjusted to 300 million.

Happy New Year
Henry

The Problem With the Citi Bailout

So how does Citigroup buy a Spanish Outfit?

Rubin's Teflon Finally Wears Off

Ah yes, it seems a classic reaction to Wall Streets responsibilities. Rubins, not my job defense makes me wonder what was his job, Leadership Mr. Rubin means, "The buck stops here". You and your fellow directors failed at your jobs. At least have the stones to take responsibility for it.