Interesting choice. And which former Democrat president’s Treasury Secretary was Vice Chairman and head of the Board’s Executive Committee of that formerly august institution?
Bat One - 08:03pm on 03/11/2008
CitiGroup
Woof, Citigroup named a new CEO in 2007, after announcing they needed to downsize. After a SINGLE quarter loss, the CEO was pressured to step down and a new one was appointed. (Previous to that the company had been doing fairly well.) So nope, try again.
Try not naming a company that immediately replaced their CEO this time.
Kenny - 08:03pm on 03/11/2008
WOOF - The not so innovative, not so efficient private sector.
The sector that outperforms the public.
Country club membership, health insurance,
deferred compensation, car allowance, tip your caddy?
We can work it out.
In other words, ransom.
likwidshoe - 12:03am on 03/12/2008
I see Woofie is at it again with his phony equivalences. But then what would you expect from a communist except a slam against the free enterpriae?
docdave - 02:03am on 03/12/2008
Fox Business Reporter Elizabeth McDonald:
Mr. Prince, do you think you should hand back to Citi your $10.4mn “performance” bonus you received on being shown the door given that your bank has recorded $21bn in writedowns, and given that that bonus was based on profits that didn’t exist? Do you think you should also give back the $28mn in unvested stock and options and $1.5mn in annual perquisites you received?
The point is the government shouldn’t be in the business of bailing out bad businesses.
We do involve ourselves in banks, but there are regulations they have to live with to belong to the banking system.
The other thing is that IF we do step in to help keep a bank stay open we shouldn’t be saving the management or the stockholders so they still feel the pain of their stupidity.
The Whistler - 06:03am on 03/12/2008
TW
When the government does they demand more money from me to subsidize their stupidity.
Like the feds new TSLF program? Taking the banks toxic waste to bail them out.
Since we’re bringing up Citibank, has there ever been a bank that’s gotten itself into more stupid loans?
Interesting choice. And which former Democrat president’s Treasury Secretary was Vice Chairman and head of the Board’s Executive Committee of that formerly august institution?
Woof, Citigroup named a new CEO in 2007, after announcing they needed to downsize. After a SINGLE quarter loss, the CEO was pressured to step down and a new one was appointed. (Previous to that the company had been doing fairly well.) So nope, try again.
Try not naming a company that immediately replaced their CEO this time.
WOOF - The not so innovative, not so efficient private sector.
The sector that outperforms the public.
Country club membership, health insurance,
deferred compensation, car allowance, tip your caddy?
We can work it out.
In other words, ransom.
I see Woofie is at it again with his phony equivalences. But then what would you expect from a communist except a slam against the free enterpriae?
Fox Business Reporter Elizabeth McDonald:
Forget the MoneySome corporations do stupid things but I fail how it hurts me. When the government does they demand more money from me to subsidize their stupidity.
Big difference.
Since we’re bringing up Citibank, has there ever been a bank that’s gotten itself into more stupid loans?
Bear Sterns
How it hurts you?
You now own Bears’ bad paper.
bear stern article
The point is the government shouldn’t be in the business of bailing out bad businesses.
We do involve ourselves in banks, but there are regulations they have to live with to belong to the banking system.
The other thing is that IF we do step in to help keep a bank stay open we shouldn’t be saving the management or the stockholders so they still feel the pain of their stupidity.
TW
Like the feds new TSLF program? Taking the banks toxic waste to bail them out.
How about the 236 that have already gone kaput.
No More Money
Why are we bailing out the banks TW.
What would happen to this tax cut created robust economy if the fed didn’t bail out the banks?
Could it be the economy grew on cheap credit and stupid loans and that’s why it is collapsing while tax cuts are still in place.
House of cards built on over leveraged debt.