Asian markets are up this morning. Maybe China could buy them...
Seriously, though, a Saudi prince upped his % of Citi Group yesterday from 3-1/2% to 5-1/2%, so they are getting some more cash.
Like all US corps, though, they're mismanaged, they overspend, etc., and we know how that's going to end up.
Greed.
Indigo
· 1 year ago
Citigroup. That's the one with the off-Earth CEO and board of directors, right?
Amicus
· 1 year ago
The "strategic problem" with Citibank is _____.
It appears that they have a bad asset problems on the books, and the market wants to price those problems at the worst possible outcome. Some short-sighted shareholder probably convinced them that means they have to "cut jobs, deep" while "keeping the dividend".. Go figure.
Apart from that, their business lines appear to be doing just as well as anyone else's in the industry, less the usual Citibank "inefficiency premium", right?
Their net interest margin (the amount they make just for being in business) has been growing significantly as rates have come down, and almost covered their entire expense line in the last quarter. In normal times, that would give them a huge margin of error, a lot of "screw-up room", so to speak.
Scottsdalian
· 1 year ago
Break up Citibank. Any bank that is "too big to fail" and cannot be properly regulated.....should be broken up into manageable pieces.
ckerst
· 1 year ago
I think the government should loan them the money, at 28% interest and if they make a payment late tack on a 20 million dollar late fee.
All Comments
Seriously, though, a Saudi prince upped his % of Citi Group yesterday from 3-1/2% to 5-1/2%, so they are getting some more cash.
Like all US corps, though, they're mismanaged, they overspend, etc., and we know how that's going to end up.
Greed.
It appears that they have a bad asset problems on the books, and the market wants to price those problems at the worst possible outcome. Some short-sighted shareholder probably convinced them that means they have to "cut jobs, deep" while "keeping the dividend".. Go figure.
Apart from that, their business lines appear to be doing just as well as anyone else's in the industry, less the usual Citibank "inefficiency premium", right?
Their net interest margin (the amount they make just for being in business) has been growing significantly as rates have come down, and almost covered their entire expense line in the last quarter. In normal times, that would give them a huge margin of error, a lot of "screw-up room", so to speak.