Citigroup
Citigroup Chief Economist To Be Geithner's New Advisor
Submitted by Tyler Durden on 03/17/2009 21:07 -0500Citi's chief economist Lewis Alexander is said to be leaving for a post with the U.S. Treasury Department. Alexander will be a direct counselor to Tim Geithner. This makes some sense keeping in mind who Geithner's predecessor was.
Mr. Alexander's role as Citigroup's chief economist didn't entail significant management responsibilities. But his optimistic economic forecasts colored executives' views that the U.S. was unlikely to face a prolonged slump.
US Taxpayer Welcomes Citigroup To His Portfolio
Submitted by Tyler Durden on 02/27/2009 13:15 -0500Citi common diluted 74%. Fed converts up to $25 billion of preferred to common, as expected, however with the twist that other private preferred investors have to agree to terms. C shares down 42% post announcement... Did people not see this coming??? Although this was worse than expected. Government keeps making rules up on the fly.
