Aig Replied, Citigroup Expresses Gratitude

By Author: Italo Zanotti
Total Articles: 62
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"We owe a debt of gratitude to the country's taxpayers." The chief executive of Citigroup, Vikram Pandit, appear before the Congressional Oversight Panel and thanked for the aid received, which enabled the bank to "build a bridge to overcome the crisis." Pointing his finger at the sales, according to him also major causes of the near collapse of Citigroup, Pandit is in favor of Barack Obama's proposal to limit the size of banks and their risk taking. Or the 'Volcker Rule, "which the administration sent to Congress, where she was greeted with little enthusiasm by the Senate. Citigroup closed on the Stock Exchange in progress by 0.88% to $ 3.43. "No more 'too big to fail," says Pandit, stressing that banks should not speculate with capital. The Obama proposal moves in this direction, as it seeks to banish the proprietary trading and the ability of institutions with deposits to invest in hedge funds. Pandit is on the same wavelength of the administration also creating an authority for the protection of consumers, of which - notes - is needed. "Citigroup is a different society from what it was two years ago. He has very solid foundations ...
... and is one of the most capitalized banks in the world, "he adds, noting how Citigroup" does not expect to need additional funds Tarp: Do not come back from the government for more capital. " Citigroup has received public assistance for 45 billion dollars, of which 20 billion returned them. "We paid $ 3 billion in dividends and $ 5.3 billion in prizes' to the Treasury, which is still in possession of 27% of the bank.
If you would like to thank Citigroup, AIG attacks
While Citigroup is grateful to the taxpayers, other employees of the finance division of AIG - according to transcripts of closed-door conversations obtained by The Washington Post - attacking them as harshly criticize the government. When the row has broken out on heavy bonuses were distributed publicly silent, leaving insult. But far from prying eyes and ears have taken place and have not spared, with heavy criticism, neither Washington nor the Americans. "Those who have sunk the company is already gone. Those who were left to clean up the confusion and give back the money you save are entitled to receive their reward, 'say the employees of AIG in a conversation with Gerry Pasciucco, recruited to quit AIG Financial Products, during which they asked the insurance giant to respect the commitments made to them: "You have made a commitment to us, and we with you. You can not expect that we pass over and that we ignore because we are immoral bigots who expect the other to us. " "I believe that American taxpayers deserve to lose a billion dollars for the way they conducted themselves," adding for emphasis like politicians "think only at the next election, as we are concerned only for the next bonus. Nobody cares in the country, the institution: they're not interested, I do not care. "
Photo: Vikram Pandit - Other news www.italo62.blogspot.com