she will not let go--it is her only claim to fame--now we need to hear from Mayo--they seem to be in a race to slaughter Citi.
I do believe cost cuts and the capital infusion are needed at Citi. It is amazing how the BOD begins to act during the time of adversity. I also find it amazing that all of a sudden they realize how over bloated the company is--and prior to this the company continued to state everyhting is under control--Chuck is the man with the strategy. Now, without Chuck to guide them blindly, they appear to be listening to Gary C. CFO and Pandit--just shows how they failed to hold Prince accountable during his tenure.
I agree the terms are rich for the equity infusion--but I do believe the investment group is pretty savvy and if the risk was greater--a higher risk premium would have been attached. So let us hope the extent of losses is limited to the $15 billion range and no addition infusions of capital is required.