FDIC's Bair Pressures Citi: Get Your House In Order

New York Times:

Tough words from Washington arrived by phone on Tuesday at Citigroup headquarters in New York.

On the line was Sheila C. Bair, the head of the Federal Deposit Insurance Corporation - and a powerful behind-the-scenes player at the giant bank. She was calling to press directors once again to put Citigroup's troubled house in order.

Read the whole story: New York Times

Comments

[HST]

Pull the plug on these guys or if you bail them out can I get all my credit card debt forgiven too?

[sachazg]

Yeh, me too!

[Mildmannered]

nationalize, strip of toxic assets and toxic management and then privatize

[gcallaghan]

So, closing that proverbial barn door, are we?

[breakingpoint]

When are they going to arrest these crooks?

[2tango]

Why this Hindu still in power?

[Carolab]

Citi is a mess.

Citigroup’s Serious Ills Confirmed by New Capital Needs

by Martin Weiss on April 28, 2009 · 15 comments

Reports this morning that Citigroup is among the losers in the recent bank stress tests confirm our data, reported last week, that the bank’s financial condition has continued to deteriorate in the first quarter, despite reports of profits. (See “Big bank profits are bogus! Massive public deception!”)

Moreover, the stress tests are based on blatantly mild premises. Assuming a more realistic worst-case scenario, the number of large banks failing the tests would be significantly larger. (See “Bank Stress Tests Based on Blatantly Mild Premises.”)

http://blogs.moneyandmarkets.com/martin-weiss/citigroups-serious-ills-confirmed-by-new-capital-needs/

[Brian Englert]

They suck. I've begged and begged for relief on a second mortgage at 12%, and no relief. I hate them, and everybody that works for them. I wish nothing but ill will towards them.

[JZ735]

Citi is the worst...besides Chase...
It took me years to convince the morons that someone was writing bad checks on my account, while they tried to paint me as a criminal...

THEY are the criminals as they rob the taxpayers blind.

[ngoron]

Just sell it and get our monies back.

[schatsie]

Are you kidding me, they will grab the assets and dump the liabilities on us and we all know that this gambling landed trillions in their lap....