Forum Post: Go talk to vikram!
Posted 13 years ago on Oct. 14, 2011, 1:35 p.m. EST by deepthroatloan
(38)
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Vikram pandit of Citi said he'll talk to the protesters. This guy took no salary for one year after the crash and Citi was the first to pay back the TARPmoney with interest. Take him up on it, start a dialogue, make the other banks take notice
So go to him and ask him what is he going to do and what has he done to make things right? Do you know how many lawsuits there are against the big seven banks right now? The OCC is on them, the SEC is on them, the fifty attorneys general were ready to file class action suits against them. No one is saying Citi is innocent or that vikram is a saint or even that he's on our side. But keep your friends close and your enemies closer. Know your enemy inside and out. If he wants to use OWS to make Citi look better, use him to get some demands met. Stop thinking in black and white, we need to get old school mobster realpolitik on this. Use the banks against eCh other. Divide and conquer.
Then they should go talk to him and see what happens. They want a voice, to say something, what better way to do it than talk to someone who is the head of one of the big banks? As for him not taking a salary, sure it was symbolic and the man is loaded. But weren't the other bank heads taking home salary plus bonuses? They can use him, maybe he will help their cause in the end inadvertently. But ignoring his invitation I feel is foolish.
The Securities and Exchange Commission today charged Citigroup Inc. with misleading investors about the company's exposure to subprime mortgage-related assets. The SEC also charged one current and one former executive for their roles in causing Citigroup to make the misleading statements in an SEC filing.
The SEC alleges that in response to intense investor interest on the topic, Citigroup repeatedly made misleading statements in earnings calls and public filings about the extent of its holdings of assets backed by subprime mortgages. Between July and mid-October 2007, Citigroup represented that subprime exposure in its investment banking unit was $13 billion or less, when in fact it was more than $50 billion.
and
The Commission brings this action against defendant Citigroup Global Markets Inc., formerly known as Salomon Smith Barney Inc. ("SSB"), to redress its violations of the Securities Exchange Act of 1934 ("Exchange Act"), pertinent rules thereunder, and pertinent rules of NASD Inc. ("NASD") and the New York Stock Exchange, Inc. ("NYSE").
In 1999, 2000, and 2001 (the "relevant period"), as described below, SSB issued research reports on two telecommunications ("telecom") companies that were fraudulent and issued research reports on several telecom companies that violated NASD and NYSE rules regulating their members' communications with the public (the "Advertising Rules").
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The US Securities and Exchange Commission is pressuring Citigroup to pay more than $200m to resolve an investigation into the sale of a mortgage-related security in 2007, according to a person familiar with the matter.
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The Securities and Exchange Commission today instituted and settled enforcement proceedings against two major financial institutions, J.P. Morgan Chase & Co. and Citigroup, Inc., for their roles in Enron Corp.'s manipulation of its financial statements. Each institution helped Enron mislead its investors by characterizing what were essentially loan proceeds as cash from operating activities. The proceeding against Citigroup also resolves the Commission's charges stemming from the assistance Citigroup provided Dynegy Inc. in manipulating that company's financial statements through similar conduct.
Happy to talk. Bring cuffs.
Let us give him chance to give his viewpoint. He took over the bank during the crisis. But I still think the real culprits are in government. Why are we not moving it to Washington dc? I tried hard to get answer but most of people agree but they say they have no control. So who deciding? May be the politicians. They want to keep us away and we are falling to it. All attention is diverted and nobody is questioning their failed policies. The union supporting us are being used by the politicians to keep us away from dc. What a fool are we. I think we have to be vigilant. Dave
Vikram is not a frenemy, no matter how he tries to slice it he is one of them. I'm not impressed by his taking no salary for a year, he has the kind of money that makes money for him even when he isn't making money! Vikram Pandit along with many others should be in a Prison somewhere!