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Citigroup

This article was first published in The Daily Banter

Last month, shareholders finally rebelled against Citigroup, the worst of the Too Big To Fail bailout disasters, by filing a lawsuit against outgoing chairman Dick Parsons and handful of executives for stuffing their pockets while running the bank into the ground.

Anyone familiar with Dick Parsons’ past could have told you his term as Citigroup’s chairman would end like this: Shareholder lawsuits, executive pay scandals, and corporate failure on a colossal scale. It’s the Dick Parsons Management Style. In each of the three companies Parsons was appointed to lead, they all failed spectacularly, and somehow Parsons and a handful of top executives always walked away from the yellow-tape crime scenes unscathed. (more…)

May 14th, 2012 | Comments (19)

Citigroup PSA: After All The Money We Stole, Here Are A Few Sucker Belt-tightening Tips Everyone Can Use

I was channel surfing last night when I stumbled upon a couple of Citi commercials—or PSAs, since taxpayers own more than 30% of Citi—that offered viewers a number of depression-era, cost-cutting lifestyle suggestions. With the billions in bonuses Citi has paid out to…

August 1st, 2009 | Comments (14)

Is Larry Summers Taking Kickbacks From The Banks He's Bailing Out?

Is Larry Summers taking kickbacks from the banks he’s bailing out? Last month, a little-known company where Summers served on the board of directors received a $42 million investment from a group of investors, including three banks that Summers, Obama’s…

May 30th, 2009 | Comments (17)