Good article. The reason there are such golden parachutes is that boards are made up of other CEO's and they reason "there but for the grace of God go I".
How Much Credit Is Too Much? Where AmEx Went Wrong [View article]
Would really question the COF lines. Worked there and this does not even remotely match what I saw.
BTW, Cards is a business within WFC and C. And not a very large part as well. Don't confuse Citi's card standing relative to other issues with the size internally.
Finally, I am not sure you can summarize AMEX's line size this way since they issue both charge cards with no "credit line" (though they do have a guideline) and credit cards with hard limits.
American Express Calls Investment Banks' Bluff [View article]
The article overlooks the vital business charge card expenditures (due at end of month) that is Amex's bread and butter. There are significant cut back there, as well as in the expenditures in the retail side of the business, again where most of the charges are due at the end of the month (eg, not revolving).
Parson's Portfolio: Citi Chair Has Little Skin in the Game [View article]
Is he supposed to sell everything he owns at a huge loss to invest???
Stupid article. Reminds me why I don't generally read SA any longer.
Bottoming Stocks - Cramer's Stop Trading! (7/31/08) [View article]
On Banking Executives and Risk [View article]
How Much Credit Is Too Much? Where AmEx Went Wrong [View article]
BTW, Cards is a business within WFC and C. And not a very large part as well. Don't confuse Citi's card standing relative to other issues with the size internally.
Finally, I am not sure you can summarize AMEX's line size this way since they issue both charge cards with no "credit line" (though they do have a guideline) and credit cards with hard limits.
American Express Calls Investment Banks' Bluff [View article]
Citi, Merrill, WaMu: Death Spiral Financing [View article]
The Hapless Members of Citi’s ELKS Club [View article]