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Citigroup Inc. Message Board

  • slmoondra slmoondra Jul 11, 2005 12:17 PM Flag

    Smart investors dumping C = Criminal


    Influenced by constant news of illegalities by C, some big players seem to be dumping C stock. I bet the next wave will be some big customers close their accounts at C.

    A simple solution is that C elects a new Boad and appoint new honest CEO who will clean up this scndalaous bank by firing any employee on the spot who is found to be engaged in illegal activities.

    This topic is deleted.
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    • "A simple solution is that C elects a new Boad and appoint new honest CEO who will clean up this scndalaous bank by firing any employee on the spot who is found to be engaged in illegal activities."

      Fire them? I'd promote them!

    • I agree, this company is involved in one scandal after another.

      What's even worse is that they reward wrong-doing employees, like Jack Grubman, with high salaries and $30M severance checks.

      In my opinion, this company is unable to make money unless it's involved in a scam.

      C also equals poor ethics.

      • 1 Reply to josh9789021
      • I do not agree with you that they can only make money when they are in a scandal--but I think many people may hold your sentiment--it is impacting the stock.

        Market is up today and Citi is leading the financials down--LEH, MER MWD, GS, AIG, JPM all moving with the market--up that is. Can anyone explain why Citi has no legs?????

    • The "constant news" is the rehashing of the same story again and again. The "Dr Evil" trade was not illegal in the eyes of the UK regulators, it merely breached "standards of behaviour". The facts are that they took an abnormally large short position and then covered it after the price dropped. The Italians are now investigating the same trade. There is no investigation of "cook the books" as you have suggested.

      Having read all your (repetitive) posts, what you failing to state is that the UK has finished its investigation and gave C a slap on the wrist fine.

      Post your opinion, but don't obfuscate the facts.

    • IT seems England did not view the bond trades a being illegal but rather manipulative against the market. Maybe semantics but Citi or its people were not charged with a crime. It would seem the findings of one gov't should hold for the entire Euro market. But it seems individual conuntries can find a different outcome. Most of Citi's other actions were not deemed illegal but rather unethical or pushing the line beyond acceptable practices.

      Regardless, the BD and Management are tainted and replacements are needed. This stock is lagging the market and other financials. At this time it has given back more than it gained on Friday.

      • 1 Reply to kc1956
      • Isn't Parmalat an Italian company? That is the other big negative news story still hanging around. Could be that the Italian government is putting the double squeeze on Citigroup to do what it has been doing much too often recently - pay with no admissions of wrongdoing - and make the problems go away.

        I suppose the real question to ask is why it took the Italians from August of last year until July of this year to react?

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