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Citigroup Inc. Message Board

  • chelsea10011 chelsea10011 Dec 17, 2009 4:50 PM Flag

    I think Geithner and Bair might be planning

    for Pandit's resignation. he's not qualified to run Citibank. He is destroying value.

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    • Geithner should be preparing for his own resignation.

      Citi should never have been allowed to pay back the TARP. Problem is that Pay Czar capped executive salaries. Citi, BAC and Well Fargo cried foul and all of them said they had to get out of TARP to retain executive talent. So, Geithner allows all of those institutions to pay back TARP just to get around pay restrictions which were effectively imposed at behest of Treasury.

      Is Citi stronger now that it paid back TARP. NO! Are shareholders, including U.S. government better off? NO! This is another example of unintended consequences of inconsistent government policies.

      Oh, and the money used to pay back TARP is not being used to reduce deficit; now there is another program to use those funds.

      This current Administration has no fiscal discipline, is actually destroying the banking system by its incoherent policies and no private sector jobs are being created and no loans are being made to small business. So, what has all of this financial chicanery accomplished? Not much except to bleed the taxpayers dry and this is before health care reform and cap and trade.

    • let's give him another week.

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