Roundup: Recent Financial Headlines

My only comment - former Secretary of the Treasury Robert Rubin, a major player in the 2008 financial collapse, has been affiliated with both Goldman Sachs and Citigroup in his private sector work. Unlike Bear Stearns, Lehman Brothers, Merrill Lynch and Washington Mutual - all of whom suffered heavily thanks largely to economic policies of Rubin set during his tenure in the Clinton Administration, particularly the repeal of portions of the Glass-Steagall Act in 1999 - the two financial giants survived the crisis. As of 2008, he received $50 million in compensation/stock options from Citi, who were receiving a $45 billion bailout from American taxpayers at the time. Interesting.

GMAC To Tap Citibank, Goldman Sachs For Advice On TARP Repayment

U.S. Take If It Sells Its Citi Stake To Settle Cost Of Bailout:  $8 billion

Citi 'Negative' On Subprime Mortgages As Early As 2006, Yet Firm Continued To Pump Out Subprime Mortgage Products

Goldman Sachs E-mails Show Bank Sought To Profit From Housing Downturn

Citi Distances Itself From Goldman’s Troubles 

©2010 Steve Sagarra

Bear and Grinning It

South Park Creators Warned Over Muhammad Depiction

Not an incitement to violence??? Then I must have misinterpreted the Theo Van Gogh reference. And is Muhammad a bear? Because I see a bear, which can only be a blasphemous representation if Muhammad were a bear. This is partly the reason I'm agnostic - organized religions fighting over nonsense that means nothing in the grand scheme of things. Would Muhammad really care? Would Jesus, or even the Buddha? There's been plenty of controversy over the portrayal of other religious figures on the show, particularly Jesus, but freedom of speech is freedom of speech. No one has the right - Constitutional or otherwise - to infringe upon another's right of expression, even if you disagree with what is said. That's part of our individuality, and every individual has their rights.

Again, though, I just see a bear...

©2010 Steve Sagarra

Citibank Top Ten List

Ten reasons why, in my highly biased opinion, Citibank sucks. I am sure there are many more, and you probably have your own favorites as well.

#10 Too busy assessing late fees and increasing interest rates without warrant, Citi never sleeps.

#9 Bank of America already holds the title for "blows."

#8 Easy way to “earn” taxpayer money - but for $45 billion, they'd better do more than just “sloppy yawns.”

#7 No reasoning with customer service, which has only one reason:  frontline idiocy

#6 Loyalty means nothing, especially to long-standing account holders.

#5 The U.S. government owns 36%.

#4 Foreign investment firms, mainly based in the Middle East, own 26%.

#3 Even Ticketmaster makes fun of them for their unscrupulous tactics.  

#2 With their name on the Mets' stadium, suckage is practically a guarantee.

#1 After suffering through several historic crises, they’re used to being on their knees.

©2010 Steve Sagarra