Citi Firing 60,000, Chairman May Still Lose Job

Can they afford to sack the chairman or does that cost them another 20 mil. Maybe the goverment should buy the nba or nfl seems those are pretty healthy as manram has to ponder whether he could take only 50 mil for two years. I'm sure in 100 years the society will be laughing at this stuff,maybe lebron and koby could bail out gm or ford

Who ever bought Citi and Goldman are going to be screwed. They are on the hook to the Federal Reserve for 1.5 trillon dollars. The claims by the Fed Reserve that they "are not a federal agency and thus not subject to FOIA" are absurd (they use 1.5 trillon taxpayer dollars and their Board of Directors are subject to FOIA). Yes they can delay disclosure, perhaps to the Supreme Court, but eventually the cat will be out of the bag. Conflicts of interest, favoritism, you name it... Someone other than the suckers who own C and GS should suffer as well.

Used to work for Citi when Sandy Weill was the CEO. It was managed bad then. They don't know what they're doing. Remember, Citi almost went under back in the early 1990's. I don't believe they'll go under this time either, due to the bailout. They are not positioning their assets properly.

Or you could take what USED to be the American Way....get educated...learn a trade....work harder...save and invest for the future and for your family....and society wins. I bet there was a lot more happiness around before the credit crisis.....and housing crunch....and the Obama driven stock market crash.......and this huge drop has been attributed to credit....but true investment professionals know that when liberals are at the head of both houses of congress and the white house, it spells at least 2 years of dismall business climate!!!

Robert Kiyosaki writes good books and could save this company. He could write: 'Rich Company-Poor Company' and millions would buy the book and save this company. He knows lots and lots, just ask him....

hey, i'm going to stop paying my mortgage, so I can qualify for a bailout!! God I love this country!! :-)

I am so sick of reading the comments from the FAT CATS that the average AMERICAN should stay in his or her caste and lick the soles of the FAT CATS boots. This country used to be a place people came to for the chance to better themselves. Today we have a caste system that is just like the ones in the countries that our ancesters left. The FAT CAT should remember the French Revolution, OFF WITH ALL THE FAT CATS HEADS!!!!!!!!!!!!!!!!!!!!!!!

Hello...well if anybody noticed, Citi last year started billing thier card holders every 25 days...not the 30 day norm. with the every 25 day billing Citi collects 14 payments a year, thats 2 extra payments a year!do the math. Than on top of that they raised everybodies rate. So yea, who wants to do business with a rip-off company. Usaully one payes a bill on a certain date a month, not with Citi, your due date would always be different each and every month, with that you wind up making your payment late........CHA CHING, Citi added a late fee. Citi is not the only Credit card company doing this.

The CEO should have been fired a long time ago. I can run a company into the ground for way less than he's being paid. Why doesn't he say, "Look everyone, I'm going to take a 95% pay cut (total compensation package)." instead of "Look everyone, I'm buying stock and I'm forcing my other overpaid, useless, executives to do the same."? With whose money is he buying stock with. We'll never know.

Dear Jerry, Please remove Mr. Task from Yahoo! This would increase my porfolio in Yahoo!

Dear Jerry, Please remove Mr. Task from Yahoo! This would increase my porfolio in Yahoo!

Beware of the money-changers!

I can't believe any upper managers on wall street or in Detroit actually still have jobs. It's truly mind boggling. Let's get rid of some dead weight here. It's overly obvious that these men and women have no idea of what they are doing and are getting millions of dollars for it. I hope investors will keep selling off this market to tell the boards of these companies what they should already know.

Definition of Insanity: Doing the same things expecting different results. Sound like the banks? If people are defaulting because they cannot afford the charges, why does more charges make sense to these people? I think Walmart should have been let into the banking sector at least they get that raising prices in a bad economy does not make sense. Probably why they are the only retailer without a major downturn of late. Forget the bailout, let Walmart buy Citigroup, maybe they will do it right and provide good services at a good price and make banks available to people not dripping in cash. They may even save the damn bank. Someone needs to do something to get these one trick ponies on a new trick.

As a customer of Citibank the last thing they need to do is fire people - they have some of the worst customer service I have ever experienced. They do everything legally possible to 'keep' your money by limiting withdrawals and changing how much and how frequently you can withdraw, transfer etc. This is one bank I would love to see fail.

As you know our system is crumbling before our eyes. Greedy and wealthy people are the root cause of our problems. Jobs are shipped over seas and in turn companies are looking for a cash flow. How foolish can companies be. Companies and big Government play universal poker with money. Guess what? you folded. World get on the stick, because our civilization will end like Rome did.....

Can we lay bets on the date that Citi has to be bailed out?

It was the excessive greed and blind optimism during 2006 and initial part of 2007 that lead us here. Poor regulation also contributed greatly. It will take a couple of years to come out of this mess. So hang in there folks.. Fed should go after the folks who made huge bonuses during those times and get them to return the money.. Also investigate more deeply why this systemic failure happened. FED is not without blame in this mess..

Black Friday? Look for bargins in December. The Revolvers will be gone - The Deadbeats will have a field day. A deadbeat is what the cardholder calls you guys and gals that pay off your cards evey month. But you knew that. Bail em all out, Nancy Pee. Socialism Rules in Congress.

Of course Citi has to reprice risk to these Cardholders who fall behind on their payments, or refuse to pay at all............who really has simpathy towards this subset of Americans who buy a house(s) with money they don't have and could never afford, who take out home equity loans to buy trophy cars to get trophy wives and trophy kids. Who are these Americans who buy iPhones and Porsche Caymen for for every kid not only just their own on the block just to seem with it and up to date? Now they are all lined up "cyin and complainin" and want a Goverment Check to bail them out.........WELCOME TO THE POORHOUSE and don't forget to bring your silver spoon to the soup line.........