Citigroup

Credit Writedowns has made it clear how little will there is in Washington for substantive reform in financial services.  But, let’s be more explicit in this post about what policy makers are doing.  I will use the recent…

The Washington Post is reporting that the federal government has quietly decided to exempt Citigroup from a large future tax bill in allowing it to exit the TARP program.  This is a backdoor bailout worth billions and is an outrage…

There will be no Dubai sovereign default. The government of oil-rich Abu Dhabi surprised investors this morning in announcing a $10 billion rescue package to pay for upcoming obligations of embattled Dubai World. Below Richard…

Citigroup has confirmed it will repay $20 billion of the bailout money it has received from government, becoming the latest big bank to exit the TARP (troubled asset relief program). To prevent capital ratios from dipping, the company will…

Matt Taibbi is one of the few commentators in the mainstream media who is not worried about ‘access’ and has, therefore, been free to write much more critically about the economic crisis and reform efforts on Wall Street. His first piece…

This post from November 2009 is a reminder of how things looked in the sovereign debt crisis just a few months ago.

Credit Suisse has a note out urging caution on Citigroup shares due to regulatory hurdles.  Their logic bears noting as it can be useful for other U.S.-based banks. On Monday the CS analysts met with Citi management, who were somewhat…

In a recent post, “How is Citi going to deal with $38 billion in deferred tax assets?,” I pointed to a Reuters article which called into question Citigroup’s ability to earn enough money to prevent its having to take a charge for an…

Citigroup has been losing tens of billions of dollars over the past two years as the financial crisis has unfolded. If one considers the government capital that Citi has not paid back, the bank is clearly the weakest of the four largest…

This comes via the NYTimes: To the Editor: Re “Volcker’s Voice, Often Heeded, Fails to Sell a Bank Strategy” (front page, Oct. 21): As another older banker and one who has experienced both the pre- and post-Glass-Steagall world, I…