Citigroup (C) needs to find the balance between "investing for growth and shrinking for...

|About: Citigroup Inc. (C)|By:, SA News Editor

Citigroup (C) needs to find the balance between "investing for growth and shrinking for profitability," says Mike Mayo. Expenses growing faster than revenue isn't just about a bad quarter, but has been an issue for a decade, he notes.  The bank promises $2.5B-3B in expense cuts in 2012, but that may not be enough, given a $3.9B "investment spending" program.