Entries Tagged as 'citigroup'
John Bougearel
Turns out according to soures with knowledge of the situation that Citigroup employees can sell their 2009 bonus shares in April 2009, “providing shareholders approve the scheme.” The bonus shares in effect are almost as liquid as cash bonuses, given the lockup period is only three months long. So, the govt has approximately 40 [...]
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Tags: citigroup
by John Bougearel ~ author of Riding the Storm Out
“We’re going to move quickly to lay out a new financing program to deal with these legacy assets,” Geithner said in an interview with Bloomberg television at a meeting of Group of 20 finance ministers in Horsham, England, last weekend. “We have and expect to see [...]
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Tags: AIG · Barry Ritholtz · Geithner · US Treasury · Yves Smith Naked Capitalism · citigroup · obama
By John Bougearel
From Bloomberg:
Oct. 22 (Bloomberg) — President Barack Obama said limiting pay for top executives at firms that got the most government aid strikes a balance between the interests of taxpayers and restoring stability to the financial system.
The president said the independent rulings by Kenneth Feinberg, Obama’s special master on executive compensation, are “an [...]
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Tags: citigroup
by John Bougearel, author of Riding the Storm Out
Bloomberg today reports that “Citigroup Shifts Crittenden to Oversee Units for Sale; Kelly Is Named CFO Citigroup Inc., whose biggest shareholder is poised to be the U.S. taxpayer, reassigned Chief Financial Officer Gary Crittenden to oversee the Citi Holdings unit that houses $850 billion of assets the [...]
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Tags: citigroup
John Bougearel
Bloomberg reports today that Citi, BAC, WFC, and CIT made 9% secured loans to Tousa Inc six months before Tousa was to file for bankruptcy.
Florida Judge Olson ruled that the lenders “did not act in good faith and were grossly negligent when they made the loans. The had more than sufficient knowledge to understand [...]
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Tags: citigroup
