Citigroup's Positive Management Review Questioned By FDIC

(Reuters) - The U.S. Federal Deposit Insurance Corp is questioning the positive conclusions given to Citigroup Inc's management team in a government-mandated review in the aftermath of the financial crisis, the Wall Street Journal said, citing people familiar with the situation.

The report said some FDIC officials were questioning the rigor of the report, based partly on interviews of Citi's executives who rated the effectiveness of their colleagues.

Read the whole story: Reuters

Comments

[sposton]

08:17 PM on 10/09/2009

Read Simon Johnson's piece on corporate bigness:

http://economix.blogs.nytimes.com/2009/10/08/big-is-bad-again/

It is worth reading.

[MyTalkRadiou]

03:20 PM on 10/09/2009

Obama needs to do actual reform instead of just talk & plan

good articles: http://br.st/tU

~~

[EinChicago]

11:09 AM on 10/09/2009

It makes sense teh FDIC would question this report because it humiliates Bair. She specifically commissioned this report for the express purpose of pushing Pandit out. Not only did she not get the result she wanted, she has found herself now cast in the role of irrational, vengeful harpy whi is the object of ridicule for pushing a "chruch lady" type witchhunt. She has a lot invested personally in finding any way to undermine this report, whether true or otherwise.

[Baltotoast]

08:12 PM on 10/09/2009

Sheila Bair is a disaster and is the one that should be replaced. Petulant, irrational and most importantly a loose cannon in the Obama administration who does not seem keep in line with Obama's policies.

[iridium53]

10:53 AM on 10/09/2009

Citigroup does have good management.

The way you can tell is by the really high pay for their management.

I mean, look at it from their point of view - not shareholders, but their management.

You, the average person and, particularly, the FDIC folks, are poor. The FDIC people are, for goodness sake, government employees. And we all know just how poorly the government functions, don't we (they think).
And, Citigroup management is rich. They may have destroyed shareholder value, but they personally get paid extremely well (by their own decisions).

It's clear, therefore, since they're rich (off our money) and we're not - they are great managers.

Argumentum ad crumenam

Perhaps they'll buy even more legislators with our money so they can get even more rich and prove just how much smarter they are. Write your legislator - Senators and Congressperson - to see if they can find a way to get even more money from Citigroup so they can participate even more in proving how stupid the public is and how right and smart and moral they really are. Do it today!