Financial Times:
Citigroup is close to a secret agreement with one of its main regulators that will increase scrutiny of the US bank and force it to fix financial, managerial and governance issues.
FDIC Pushes Purge at Citi - WSJ.com
Citigroup Demands Wachovia, Wells Fargo Terminate Merger Deal ...
Citigroup: Battling the FDIC, but Losing the Regulatory War ...
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With $32 Trillion in Toxic Derivative Hidden "Off-Balance-Sheet" and in violation of the Glass-Steigel Act that should be the LAW, now is the time to split them into pieces and clean up their Book and Non-Book Balance Sheet at stakeholder expense.
perhaps breaking them up is not a bad idea. Our communities might be better off with smaller local banks. These mega banking corporations are out of control octopuses.
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First Posted: 07-16-09 12:53 AM | Updated: 07-16-09 12:56 AM