Commentaries

A Tale of Two Citi’s

July 10, 2009

Here’s a summer quiz: Identify the following two US banks:

1. This institution has been profitable throughout the credit crisis. Last year, it reported net income of $6bn on revenues of $60bn, despite taking big hits in its consumer operations in North and South America in the fourth quarter. At the end of the first quarter the bank had total assets of $958 billion, supported by a healthy deposit base of $660 billion.

Failing upwards at BofA

June 5, 2009

goldsteinThe ouster of Bank of America’s chief risk officer, Amy Woods Brinkley, should not cause anyone to shed any tears.