Geithner: Hot Child and the CITI…
Will he or won’t he?
Tim Geithner, the future Treasury Secretary, is currently the head regulator of CITI, and he is likely to have a substantial role this weekend in helping to formulate the future of that company.
CITI’s Board met today in an attempt to come to a solution for the markets rough and tumble treatment of its stock. Best quote of the day, Jeff Macke on Fast Money compares Vikram Pandit, CITI CEO, comments today promising no pieces of the company would be sold, to Moe Green telling the Corleones there is no room for them in Vegas. It has about as much effect.
From the Guardian: …
But market-watchers will hone in on Citigroup over the weekend for any developments as to the future of the bank, the second-largest in the United States by assets.
Citigroup’s board is meeting Friday to discuss the bank’s options, according to a person familiar with the matter. The bank could sell parts of the company, or merge with another institution….
The meeting came amid reports that directors were looking to replace Citigroup’s chief executive, Vikram Pandit, and Citigroup was cutting additional staff in Japan.“Hopefully it’ll be a positive news story, whether it be a sale of the company, a restructuring, a new management — the market will take anything at this point,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
“That would probably continue a rally on Monday morning. If we get nothing out of Citibank, we have a little bit of a problem on Monday morning.”
Citigroup’s shares shed 20 percent on Friday to close at $3.77, for a loss of around 60 percent for the week. In after-hours trade on Friday Citi shares rose 6.6 percent…..
We should have a move before Monday.
ginaswo
» Geithner: Hot Child and the CITI…Pandit as Moe Green? replied:
[...] Finance.hm Finance wrote an interesting post today onHere’s a quick excerpt Will he or won’t he? [...]
November 21, 2008 at 11:35 pm. Permalink.
» Geithner: Hot Child and the CITI… replied:
[...] rshalomw wrote an interesting post today onHere’s a quick excerpt Will he or won’t he? [...]
November 22, 2008 at 12:34 am. Permalink.
Geithner in the Hot Seat…Zombie Banks…. « Moderate in the Middle replied:
[...] Our previous posts on Geithner and TARP Deux & PEBO Stimulus or as we at MiM call it – “fix housing!- Duh!” here and here and here and here and here and here and here and here and here and here and even here [...]
January 21, 2009 at 9:22 am. Permalink.
Feelin’ Hot in the CITI Tonight…. « Moderate in the Middle replied:
[...] yet….our previous posts on Geithner and the troubled CITI bailout he put together last Fall here and here and here and here and even here [...]
February 23, 2009 at 7:23 am. Permalink.
WOW! Must See TV: Congressional JEC panel ripping Geithner apart: Rep Brady R-TX? first to ask him to resign: MiM starts Obama economic team “shake-up” watch… « Moderate in the Middle replied:
[...] Paulson and AIG are legion. Our previous posts on Geithner and the troubled CITI bailout here and here and here and here and here and even here [...]
November 19, 2009 at 9:04 am. Permalink.