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Jim Cramer's Insanely Passionate Citigroup Recommendation Falls Flat (VIDEO)

Posted 05.25.2011 | Business

UPDATE: See Jim Cramer's response below Though we think the following clip from CNBC's Jim Cramer speaks for itself, here's some explanation. On...

Government Pays Mortgage Servicers Billions, While Homeowners Suffer

McClatchy Newspapers | Chris Adams | Posted 05.25.2011 | Business

WASHINGTON -- The federal government is engaged in a massive mortgage modification program that's on track to send billions in tax dollars to many of ...

Bailed Out Banks Spend Millions Sponsoring College Football Games

Houston Chronicle | Loren Steffy | Posted 05.25.2011 | Business

The winner of the BCS championship game won't be determined until Thursday night, but the loser's already decided. It's us. Citigroup, which needed a...

Can Citigroup Carry Its Own Weight?

New York Times | ANDREW MARTIN and GRETCHEN MORGENSON | Posted 05.25.2011 | Business

OVER the past 80 years, the United States government has engineered not one, not two, not three, but at least four rescues of the institution now know...

Citigroup: The Last U.S.-Owned Bank | ANDREW MARTIN and ERIC DASH | Posted 05.25.2011 | Business

A day after Bank of America announced that it would repay its federal bailout money, Citigroup and Mr. Pandit, its chief executive, were left in the u...

Citigroup Is "Queen Of The Zombie Dance Party": Institutional Risk Analyst

The Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Yet another Wall Street analyst has hammered Citigroup, despite a recent surge in the bank's stock price. Shares in Citigroup have shot up more than 6...

Norwegian Towns Sue Citigroup Over Investment Losses | Edward Cody | Posted 05.25.2011 | Business

Vik, Norway - The 2,800 residents of this pristine village isolated on a narrow finger of the gleaming Sognefjord are embarrassed, angry and eager to ...

From Bank of America, Two Different Stories About Tracking Bailout Funds

Huffington Post Investigative Fund | Ben Protess | Posted 05.25.2011 | Business

Is Bank of America, the nation's largest bank, tracking how it spends $45 billion in taxpayer funds? That depends on which Bank of America statement ...

Norwegian Towns Sue Citi Over Losses

Reuters | Posted 05.25.2011 | World

Seven Norwegian municipalities and a Norwegian securities broker are suing Citigroup Inc for more than $200 million in damages after they lost million...

Obama's Economy

Michael Likosky | Posted 05.25.2011 | Business
Michael Likosky

If the TARP banks are to be a main investment vehicle for the next stage of recovery -- as they should be, it is after all our money not theirs -- it is heartening to have Obama at the helm.

Citi Close To Secret Deal With Regulator

Financial Times | Posted 05.25.2011 | Business

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, man...

Bailing Out Luxury

Michael Likosky | Posted 05.25.2011 | Style
Michael Likosky

With the start of Haute Couture Week in Paris, luxury is on the ropes. Christian Lacroix is going under. Meanwhile, Prada and Armani are offering their brands to cell phone and car makers.

Citi Sharply Raises Interest Rates On Credit Cards Months Before New Rules Take Effect

Financial Times | Posted 05.25.2011 | Business

Citigroup has sharply increased interest rates on up to 15m US credit card accounts just months before curbs on such rises come into effect, in a move...

BofA, Citi Risk Getting Left Behind By Healthy Rivals

Reuters | Posted 05.25.2011 | Business

Bank of America Corp (BAC.N) and Citigroup Inc (C.N) may be at risk of getting left behind. Rivals including JPMorgan Chase & Co (JPM.N) and Goldma...

Feds Give BofA And Citi 30 Days To Fire Their CEOs | Joe Weisenthal | Posted 05.25.2011 | Business

One very interesting note, which David Zaring picked up on, is that in this 30 day period "...firms will need to review their existing management and ...

Citi Could Need $10 Billion In New Capital

Wall Street Journal | DAVID ENRICH and DAMIAN PALETTA | Posted 05.25.2011 | Business

Citigroup Inc. may need to raise as much as $10 billion in new capital, according to people familiar with the matter, as the government continues nego...

Citi Wants Geithner's Approval To Pay Out Bonuses

Posted 05.25.2011 | Business

Fresh on the heels of public outrage over AIG retention payments and Merrill Lynch bonuses, Citigroup is set to be the next financial behemoth to take...

Bringing Democracy to Corporate America

Richard Arthur | Posted 05.25.2011 | Business
Richard Arthur

It will not be painless but it is difficult to imagine it not happening -- the tools exist, corporations have proven that they need oversight and we need to protect our investments.

Citigroup Dividend Payments Still Ongoing

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

Contrary to popular perception, Citigroup is continuing to make dividend payments. The bank, which received $45 billion in bailout funds last year, ...

Citigroup Execs' $2.2 Million Windfall | David Scheer | Posted 05.25.2011 | Business

March 12 (Bloomberg) -- Four Citigroup Inc. executives who bought the bank's stock last week have already generated a $2.2 million paper profit, regul...

Citigroup's History Of Overreaching, Then Being Rescued

Washington Post | Binyamin Appelbaum | Posted 05.25.2011 | Business

When Citicorp and Travelers Group agreed on a historic merger in 1998, the heads of the two companies placed a courtesy call to inform the Treasury De...

Citigroup Stock Sinks To An All-Time Low Of 97 Cents

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

Shares of Citigroup, once the nation's most powerful bank, hit an all time low of 97 cents on Thursday. It is a 95.56% drop from the same period last ...

"Bankers Behaving Badly": A Needed Remedy for a Financial Industry Gone Off The Rails

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

A company's public conduct and public image, like that of Citi and Lehman, should be a determinant of which companies get taxpayer monies. The days of Wall Street rules are at an end.

Citi's Sale Of Unwanted Assets Flailing, Difficulty Raising Cash

New York Post | MARK DeCAMBRE | Posted 05.25.2011 | Business

Citigroup's quest to raise cash by selling the assets it doesn't want is falling flat, as would-be suitors have more interest in the parts of the busi...

Citibank May Walk Out On Mets Stadium

Reuters | Posted 05.25.2011 | Business

Reuters) - Citigroup Inc is exploring the possibility of backing out of a nearly $400 million marketing deal with the New York Mets amid concerns over...