Forget making, marketing and selling the widgets, just focus primarily on the ESG clout and everything will just all work out. The revenue will just start rolling in and the stock will rise. If it doesn’t work this year, then give it another year or so and if it still doesn’t work, then just keep pumping money into it and ignoring everything else. It’ll work, you’ll see.
https://www.cnbc.com/2022/02/03/citigroup-ceo-faces-disgruntled-workers-regulators-demands-in-tough-first-year.html
But hey, the employees are safe and secure because the unvaxxed are not allowed in offices : )
How much did Citi need in September 2019 via the Fed's emergency repo operations?
Citi and other big banks still very much in big trouble. Don't kid yourself that the 2008 situation was resolved vs extended.
Can I keep my stapler?
History repeats itself if we never learn from it
Years ago Citi took the most money from the government out of all of the banks and still had to borrow from a 3rd party in order to survive. This in itself puts us under scrutiny of every kind for quite a while. It’s been a very long time now but unfortunately we will remain under the microscope so long as we continue to do stupid things like giving away 900 million to the wrong company. This is not a slight blemish to overlook. How can you be perceived as forward thinking or trail blazer’s if you’re constantly being fined for such things.
It’s easy to sit here and be a naysayer. I have no idea what works on running a bank but I certainly know what doesn’t work. I’ve got years of observation to build off of.
I don’t have the faintest clue on what it takes to run a global bank. I’m also not making 15 million $ per year to figure that out either. I patiently wait for all these endeavors to bear fruit and the years just keep rolling by with no vision. We just sit back and wait to see what other banks do and if its a good idea, then we try to jump on board with that direction.
I noticed on CNBC financial segments when they have a panel of all the big banks for a Q&A session, Citi is never among them. Sad.