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Citigroup Inc. Message Board

  • srbbs srbbs Apr 24, 2013 12:52 PM Flag

    Not to expect a quick wind-down of its pile of toxic assets


    Citigroup quelled a shareholder revolt on executive pay on Wednesday but told investors *****not to expect a quick wind-down of its pile of toxic assets or a split of the sprawling banking group.+++++++
    More than 90 per cent of shareholders approved Citi’s executive pay scheme in a vote at the bank’s annual meeting, a year after more than 50 per cent of votes went against the company and six months after Vikram Pandit was ousted as chief executive.

    Sentiment: Strong Sell

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    • Yes, C still has at least $150 billion in toxic assets in Citi (bag) Holding and undivulged (thanks to the hiatus in mark to market accounting) $100's of billions in toxic assets in CitiCorp.

      T'were it not for the government forcing tax payers to take on the liability of said toxic assets, via the Fed's MBS purchases, C would be on death's door.

      But $580 bagholders are clueless about such financial machinations. They just buy, think about pretty pretty flowers and hope for the best, blind to the asset cliff ahead.

      Speaking of flowers, kind of like the the dutch tulip bulb bubble of 1636.

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