Commentaries

The final straw with Citi

July 23, 2009

 ”We have and will continue to exit several forms of proprietary risk-taking. Where we continue to take principal risk, we will only do so when we have proven teams and a clear source of advantage.” – Citigroup CEO Vikram Pandit on January 16, 2009. 
   
Don’t be fooled by Vikram Pandit’s playing the part of a prudent banker.

Tax Wall Street trades

July 16, 2009

Reports of the death of the investment bank have been greatly exaggerated, as Mark Twain might have put it.