i suspect they will make pandit the fall guy.
i bought citi stock on its way down at a historic low, but i have still lost 50%. sigh.
---------- Forwarded message ----------
From: Shahryar
From: Shahryar
| Big Banks Why Citi Will Stay Together Liz Moyer, 11.17.08, 3:01 PM ET More drastic belt-tightening at Citigroup is likely to revive a perennial favorite parlor game: Will the company stay together or break into pieces? The answer: Stay together. The reason? It can't be split, at least not now. Vikram Pandit, a former investment banker and hedge fund manager plucked to take on the aging behemoth last December, is already dismantling parts of the company. On Monday, he outlined plans to slash another 53,000 jobs by the end of the first quarter and cut 2009 expenses by 20%. Half the job cuts will come from selling units, and the other half from layoffs. |
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