Comments on: Rubin Resigns from Citi; Bank to Sell Smith Barney http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html Sat, 21 Nov 2009 23:46:10 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Ariel http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31900 Ariel Sun, 11 Jan 2009 03:13:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31900 It's interesting how the news shows up to confirm what the charts signal. Citi stock broke when it fell under $10-11 and hasn't been able to get up. Just looking at that chart has been making me feel queasy! Won't be surprised if some more nasty news slithers out. It’s interesting how the news shows up to confirm what the charts signal. Citi stock broke when it fell under $10-11 and hasn’t been able to get up. Just looking at that chart has been making me feel queasy! Won’t be surprised if some more nasty news slithers out.

]]> By: Anonymous http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31885 Anonymous Sat, 10 Jan 2009 21:12:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31885 <a HREF="http://clinton4.nara.gov/WH/New/html/19991112_1.html" REL="nofollow"> Rubin, Summers et al. circa 1999 </a> Rubin, Summers et al. circa 1999

]]> By: Eric L. Prentis http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31877 Eric L. Prentis Sat, 10 Jan 2009 19:53:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31877 Mr. Rubin’s tenure at Citigroup is a complete failure, in spite of his $115 million dollar compensation. Citi is bankrupt and only kept in business by the US government committing approximately $309 billion taxpayer dollars to prop up the company. To add insult to injury, Citi continues to pay management bonuses, dividends, go on junkets and spend many millions of dollars on the NY Mets new Citi Field and the Rose Bowl Game presented by Citi. The financial ruling class thinks they are entitled to business as usual supported by the taxpayer, their motto, “what’s good for Citi is good for America.” Mr. Rubin’s tenure at Citigroup is a complete failure, in spite of his $115 million dollar compensation. Citi is bankrupt and only kept in business by the US government committing approximately $309 billion taxpayer dollars to prop up the company. To add insult to injury, Citi continues to pay management bonuses, dividends, go on junkets and spend many millions of dollars on the NY Mets new Citi Field and the Rose Bowl Game presented by Citi. The financial ruling class thinks they are entitled to business as usual supported by the taxpayer, their motto, “what’s good for Citi is good for America.”

]]> By: Anonymous http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31867 Anonymous Sat, 10 Jan 2009 16:22:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31867 From the archives:<br/><br/><a HREF="http://query.nytimes.com/gst/fullpage.html?res=9805E7D61238F934A15753C1A96F958260" REL="nofollow"> Former Treasury Secretary Joins Leadership Triangle at Citigroup </a> From the archives:

Former Treasury Secretary Joins Leadership Triangle at Citigroup

]]> By: Gentlemutt http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31863 Gentlemutt Sat, 10 Jan 2009 14:06:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31863 Two (sort of) down, one to go!<br/>http://www.time.com/time/covers/0,16641,19990215,00.html<br/><br/>Bob Rubin is the Charles Mitchell of this era. I can only hope that Obama has elected to spin all these Clintonite jerks through the DC sausage-maker as fast as possible, so the wooden stakes really penetrate the vampires' hearts. Then maybe Obama can finally hire some genuinely civic-minded talent. Two (sort of) down, one to go!
http://www.time.com/time/covers/0,16641,19990215,00.html

Bob Rubin is the Charles Mitchell of this era. I can only hope that Obama has elected to spin all these Clintonite jerks through the DC sausage-maker as fast as possible, so the wooden stakes really penetrate the vampires’ hearts. Then maybe Obama can finally hire some genuinely civic-minded talent.

]]> By: Anonymous http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31843 Anonymous Sat, 10 Jan 2009 08:34:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31843 Rubin's tired alright.....tired from counting all that money everynight before going to bed, all $110m dollars worth.<br/>Note the timimg of his departure...just before Obama comes into office, yep he's got some political plans in the works (him and Summers).Remember this is the guy who claims no responsbility for the demise of Citigroup so its well within his ego to think "business as usual" in a new role with the Obama camp. Rubin’s tired alright…..tired from counting all that money everynight before going to bed, all $110m dollars worth.
Note the timimg of his departure…just before Obama comes into office, yep he’s got some political plans in the works (him and Summers).Remember this is the guy who claims no responsbility for the demise of Citigroup so its well within his ego to think “business as usual” in a new role with the Obama camp.

]]> By: john http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31834 john Sat, 10 Jan 2009 06:31:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31834 'The magic Goldman decoder ring"<br/><br/>folks, I think that there is is what we could call an YS "TM" or trademark ‘The magic Goldman decoder ring”

folks, I think that there is is what we could call an YS “TM” or trademark

]]> By: Yves Smith http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31830 Yves Smith Sat, 10 Jan 2009 05:46:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31830 Sadly, Mr. Market disagrees with us. The WSJ says that Citi sold off badly on the announcement of Rubin's departure, and that contributed to the sell-off at the end of the day. <br/><br/>And Citi was probably less able under the new regime to feed at the trough than under the Bushies. Even they both wore the magic Goldman decoder ring, Rubin and Paulson were not buddies, while Rubin was thick with Summers and all the other ex-Clintonites that have are being recycled. And Obama is much more careful about appearances than the Bushies were on their best days.<br/><br/>So I think this is a plus for Citi all around, and should be seen that way. Sadly, Mr. Market disagrees with us. The WSJ says that Citi sold off badly on the announcement of Rubin’s departure, and that contributed to the sell-off at the end of the day.

And Citi was probably less able under the new regime to feed at the trough than under the Bushies. Even they both wore the magic Goldman decoder ring, Rubin and Paulson were not buddies, while Rubin was thick with Summers and all the other ex-Clintonites that have are being recycled. And Obama is much more careful about appearances than the Bushies were on their best days.

So I think this is a plus for Citi all around, and should be seen that way.

]]> By: YK http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31828 YK Sat, 10 Jan 2009 05:38:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31828 Just trying to establish that, in a cynical way, Rubin's services were worth the money Citi paid him. Just trying to establish that, in a cynical way, Rubin’s services were worth the money Citi paid him.

]]> By: bg http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell.html#comment-31829 bg Sat, 10 Jan 2009 05:38:00 +0000 http://www.nakedcapitalism.com/2009/01/rubin-resigns-from-citi-bank-to-sell-smith-barney/#comment-31829 I liked your comment questioning who would benefit from Rubin leaving, it crossed my mind immediately.<br/><br/>I don't think soviet companies worried a whit about having KGB members on their board. But I think Citicorp was tarnishing Rubin's KGB credentials.<br/><br/>Oh dear. I posted another cynical comment. It must be catching. I liked your comment questioning who would benefit from Rubin leaving, it crossed my mind immediately.

I don’t think soviet companies worried a whit about having KGB members on their board. But I think Citicorp was tarnishing Rubin’s KGB credentials.

Oh dear. I posted another cynical comment. It must be catching.

]]>