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U.S. to Take Big Citi Stake and Overhaul the Board [Nationalized!]
The Wall Street Journal ^ | 2009-02-27

Posted on 02/27/2009 5:43:05 AM PST by rabscuttle385

BY KEVIN KINGSBURY AND MAYA JACKSON RANDALL

Struggling banking giant Citigroup Inc., moving aggressively to shore up its equity base, announced a stock swap Friday that if successful will leave the government owning more than a third of the company and wipe out nearly three-quarters of existing shareholders' stake.

The move is an acknowledgment that more than $50 billion in government capital and a backstop on more than $300 billion in troubled Citigroup assets haven't been enough to stop the bank's slide. It also represents a deepening of the government's role in trying to prop up the U.S. banking sector.

Under the deal, Citigroup said it will offer to convert nearly $27.5 billion in preferred stock sold to private investors and the public and up to $25 billion in preferred stock bought by the government into common stock. The exchange, if fully executed, would leave the U.S. government with 36% of the bank's shares. Existing shareholders' stake would be cut to 26%. Shareholders will have to approve much of the common stock issuance.

Additionally, the government is demanding that the company overhaul its board of directors. Citigroup's board will soon include a majority of new independent directors, the company said Friday. Chief Executive Vikram Pandit is expected to keep his job under the agreement.

The bank's stock plunged on the news.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Breaking News; Business/Economy; Government; US: Nevada; US: New York; US: Ohio; US: South Dakota
KEYWORDS: bho2009; bho44; bhoeconomy; citi; economy; fascism; fdicfriday; financialcrisis; nationalisation; nationalization; obamasfault; panicof2009; socialism; socialistagenda
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Citi (NYSE:C) down almost one-third in pre-market trading.

1 posted on 02/27/2009 5:43:05 AM PST by rabscuttle385
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To: rabscuttle385
Additionally, the government is demanding that the company overhaul its board of directors. Citigroup's board will soon include a majority of new independent directors, the company said Friday.

People scoffed when I said that this would be one of the government's objectives. I think they will also start replacing executives with their hand-picked personnel, too. This is nothing but expropriation under a different name - or, as Barry is fond of doing things, without naming it at all.

2 posted on 02/27/2009 5:44:57 AM PST by livius
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To: rabscuttle385

3 posted on 02/27/2009 5:45:29 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: rabscuttle385

Whoa — Futures down 150 on obamanomics and nationalization of Citi. Shareholders = big losers.


4 posted on 02/27/2009 5:46:26 AM PST by jersey117
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To: PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
*Ping!*
5 posted on 02/27/2009 5:46:51 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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The Money, Banking, and Financial Markets Ping List.

"Money, not morality, is the principle commerce of civilized nations."
—Thomas Jefferson

FR Keywords: moneylist, bankinglist, financelist

Please tag all relevant threads with the aforementioned keywords.

This can be a very high-volume ping list at times.

Ping list jointly pinged by rabscuttle385 and TigerLikesRooster.

To join the ping list:
FReepmail rabscuttle385 with the subject line add  moneylist.
(Stop getting pings by sending the subject line drop moneylist.)


6 posted on 02/27/2009 5:47:02 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385
The big O can put Barney Frank in as president of Citi’s board then everything will be just fine.
7 posted on 02/27/2009 5:48:23 AM PST by Shannon
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To: PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
Update 08:49 EST: Citi (NYSE:C) is down 1.06 to 1.40, down over 43 percent in pre-market, on the heels of the Citi-U.S. announcement.
8 posted on 02/27/2009 5:50:37 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385

Typical Obama antics. Barry says he isn’t for nationalizing banks and makes sure the MSM says that.

Then he nationalizes a bank and changes the name to conversion, instead of nationalization.

He will do the same with the Fairness Doctrine, he says he opposes it, and that is what is reported. It will come back in bits and pieces and it will be under different names.

Obama is a 1st class liar.


9 posted on 02/27/2009 5:52:32 AM PST by dforest
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To: indylindy

You’re right and the spooky thing is that the sheep are lapping it up. He makes Clinton look like a amateur.


10 posted on 02/27/2009 5:56:33 AM PST by Shannon
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To: rabscuttle385

Maybe I should go watch “The Manchurian Candidate” again.


11 posted on 02/27/2009 5:58:14 AM PST by Raster Man
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To: rabscuttle385

When the government sets the board of directors, that’s nationalized folks. Maybe they will put in a Fred Raines or a Jamie Gorelick type to solve the problems. They did such a fine job with Freddie and Fannie.


12 posted on 02/27/2009 5:58:24 AM PST by NonValueAdded (May God save America from its government; this is no time for Obamateurs)
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To: NonValueAdded

Add a few Acorn Members and we are in business.


13 posted on 02/27/2009 6:02:16 AM PST by scooby321
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To: NonValueAdded

Add a few Acorn Members and we are in business.


14 posted on 02/27/2009 6:02:17 AM PST by scooby321
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To: rabscuttle385

No surprise. CITI is one of the crookedest outfits that ever darkened America’s shores.


15 posted on 02/27/2009 6:04:14 AM PST by 668 - Neighbor of the Beast (American Revolution II -- overdue.)
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To: livius

Fascism
A system of government marked by centralization of authority under a dictator, stringent socioeconomic controls, suppression of the opposition through terror and censorship, and typically a policy of belligerent nationalism and racism.

A political philosophy or movement based on or advocating such a system of government.

Oppressive, dictatorial control.
[Italian fascismo, from fascio, group, from Late Latin fascium, from Latin fascis, bundle.]


16 posted on 02/27/2009 6:05:26 AM PST by silverleaf (Freedom's just another word for "nothing left to lose")
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To: scooby321

They will. Once the government starts replacing executives, you can bet it will be affirmative action all the way. Heck, the board will probably be ACORN members.

This is sort of like watching Hugo Chavez in English.


17 posted on 02/27/2009 6:06:23 AM PST by livius
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To: rabscuttle385

Stick a fork in Citi. They are DONE.


18 posted on 02/27/2009 6:07:37 AM PST by 2harddrive (...House a TOTAL Loss.....)
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To: rabscuttle385

Oh boy. Now government workers will have bankers hours!


19 posted on 02/27/2009 6:07:45 AM PST by b4its2late (Ignorance allows liberalism to prosper.)
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To: silverleaf

Rush said it yesterday: It wasn’t a budget, it was a coup.

Obama is pulling off the fastest transition to a totalitarian state ever known.


20 posted on 02/27/2009 6:08:05 AM PST by livius
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To: rabscuttle385
No.

If we cannot save Citigroup by any other means than these, then let it go. This solution is far worse than the problem, and the problem is a massive one.

21 posted on 02/27/2009 6:11:33 AM PST by snowsislander (NRA -- join today! 1-877-NRA-2000)
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To: rabscuttle385

I swore Citi off in the 90’s because I didn’t think they were competent to operate a manure farm. And here they are, sh!tting all over the country.


22 posted on 02/27/2009 6:11:37 AM PST by Psycho_Bunny (ALSO SPRACH ZEROTHUSTRA: Worst. President. Ever.)
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To: rabscuttle385

Why not just let it go under?


23 posted on 02/27/2009 6:12:16 AM PST by Wolfie
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To: Psycho_Bunny

You thought they were incompent then? Just wait till the government takes over.


24 posted on 02/27/2009 6:15:34 AM PST by livius
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To: livius
everyone seems fixated on the word “socialism”
when it is the very definition of the concept of fascism that scary-matches what is happening to our country

However did the GOP get so corrupted as to be a passive observer of evil perpetrated against the people over the past decade or more?

25 posted on 02/27/2009 6:15:59 AM PST by silverleaf (Freedom's just another word for "nothing left to lose")
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To: livius
This is nothing but expropriation under a different name

According to Websters dictionary (before it went politically correct), the definition of Communism was :
"When government takes control of private businesses and industries."

The left has exceeded Socialism. They're going even farther than that.

According to the same dictionary, Socialism is:
"The prelude to Communism."

26 posted on 02/27/2009 6:16:07 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: silverleaf
Your use of the term ‘fascism’ is correct. We presently have in this country the cult of personality of the leader, centralized planning of economic activity. confiscatory legislation passed in private with no transparency, and demonization of anyone who dares to criticize.

Mussolini or Hugo Chavez anyone?

27 posted on 02/27/2009 6:22:35 AM PST by conservativehistorian (.)
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To: conservativehistorian

Fascism
A system of government marked by centralization of authority under a dictator, stringent socioeconomic controls, suppression of the opposition through terror and censorship, and typically a policy of belligerent nationalism and racism.

Economic Fascism
by Thomas J. DiLorenzo

When most people hear the word “fascism” they naturally think of its ugly racism and anti-Semitism as practiced by the totalitarian regimes of Mussolini and Hitler. But there was also an economic policy component of fascism, known in Europe during the 1920s and ‘30s as “corporatism,” that was an essential ingredient of economic totalitarianism as practiced by Mussolini and Hitler. So- called corporatism was adopted in Italy and Germany during the 1930s and was held up as a “model” by quite a few intellectuals and policy makers in the United States and Europe. A version of economic fascism was in fact adopted in the United States in the 1930s and survives to this day. In the United States these policies were not called “fascism” but “planned capitalism.” The word fascism may no longer be politically acceptable, but its synonym “industrial policy” is as popular as ever......

snip

Government-business partnerships. A (third) defining characteristic of economic fascism is that private property and business ownership are permitted, but are in reality controlled by government through a business-government “partnership.” As Ayn Rand often noted, however, in such a partnership government is always the senior or dominating “partner.”....

http://www.banned-books.com/truth-seeker/1994archive/121_3/ts213l.html


28 posted on 02/27/2009 6:26:09 AM PST by silverleaf (Freedom's just another word for "nothing left to lose")
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To: livius

Unless they own half, I think we can’t “technically” be considered nationalized. The govt. owns stocks in plenty of things and isn’t nationalized. However, this is pretty darn close......SCARY.


29 posted on 02/27/2009 6:26:34 AM PST by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: concerned about politics

check out fascism, not communism-


30 posted on 02/27/2009 6:27:09 AM PST by silverleaf (Freedom's just another word for "nothing left to lose")
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To: 668 - Neighbor of the Beast
No surprise. CITI is one of the crookedest outfits that ever darkened America’s shores.

No problem. Big government with its nationalized banks will save you.

31 posted on 02/27/2009 6:27:44 AM PST by FreeReign
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To: rabscuttle385
wipe out nearly three-quarters of existing shareholders' stake.

Isn't this unconstitutional, under the due compensation clause?

32 posted on 02/27/2009 6:28:10 AM PST by Robe (Rome did not create a great empire by talking, they did it by killing all those who opposed them)
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To: rabscuttle385

Have I mentioned how much I despise Obama today?


33 posted on 02/27/2009 6:31:40 AM PST by KansasGirl
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To: silverleaf
Believe it or not, even senator Byrd is speaking out about Obomas taking over control of the house and Senate. Oboma is ignoring the separation of powers.

Something else is happening in the world, too. The churches around the world (except the left wing apostates) are pointing fingers at Oboma and his "Messiah" message. Even the Pope politely warned the people not to worship Oboma.
People would never expect an African American to be the man of sin. The anti-Christ is suppose to have Italian blood, but Obomas birth name really IS Italian - Barry Soetoro.

34 posted on 02/27/2009 6:32:31 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: indylindy

[Obama is a 1st class liar.]

Yep, and the media is more than willing to provide him cover.


35 posted on 02/27/2009 6:32:51 AM PST by KansasGirl
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To: indylindy

Obama is a 1st class liar.
_______________________________________

He’s a communist. That’s how they work.


36 posted on 02/27/2009 6:36:57 AM PST by unkus
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To: KansasGirl

One
Big-
Assed
Mistake
America

(No, I can’t take credit for making it up)


37 posted on 02/27/2009 6:38:05 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: rabscuttle385

http://www.marketwatch.com/quotes/

DJIA 7,069.86

-100 in the first 30 min.


38 posted on 02/27/2009 6:38:59 AM PST by 668 - Neighbor of the Beast (American Revolution II -- overdue.)
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To: 668 - Neighbor of the Beast

7044 now.


39 posted on 02/27/2009 6:39:23 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385

Citi has my mortgage. Maybe they won’t make me pay it anymore.


40 posted on 02/27/2009 6:40:55 AM PST by Crawdad (Barack Obama- Economic Arsonist)
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To: rabscuttle385

I should add with the government’s demands, this is effectively nationalization even with less than 50 percent ownership.

Really frightening.


41 posted on 02/27/2009 6:48:34 AM PST by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: livius

Yep. Citi will become the ‘public’ financial backbone of all the force income mortgages ACORN will push, and the BoD will be a bunch of ex-gov’t socialists.


42 posted on 02/27/2009 6:48:39 AM PST by rintense (Go Israel!)
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To: rabscuttle385
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 10/13/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 10/31/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 11/15/06
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 09/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 09/30/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 09/15/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 09/30/06
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 10/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 10/31/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 11/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 11/30/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 01/14/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 01/31/05
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 01/13/06
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 01/31/06
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 02/15/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 02/28/05
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 02/15/06
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 02/28/06
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 03/15/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 03/31/05
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 03/15/06
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 03/31/06
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 04/15/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 04/29/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 04/14/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 04/28/06
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 05/13/05
Charles Johnston (CITIGROUP GLOBAL MARKETS/Senior Exe), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 05/31/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 05/15/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 05/31/06
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 06/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 06/30/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 06/15/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 06/30/06
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 07/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 07/29/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 07/14/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 07/31/06
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 08/15/05
Charles Johnston (Smith Barney/Senior Executive Vice), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 08/31/05
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 08/15/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 08/31/06
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 12/15/05
Charles Johnston (Smith Barney/Sr. Executive Vice Pre), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 12/30/05
Mark Hutchinson (Citigroup Global Markets/Financial), (Zip code: 60010) $5000 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 12/30/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 11/30/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 12/15/06
Charles Johnston (Citigroup Global Markets/Chief Exec), (Zip code: 60010) $208 to CITIGROUP INC. POLITICAL ACTION COMMITTEE-FEDERAL (CITIGROUP PAC-FEDERAL) on 12/29/06

Look at the Zip Codes on all of these contributions!

http://www.city-data.com/elec2/06/elec-BARRINGTON-IL-06.html

Citibank PAC gives pretty evenly to Dems and Republicans, overall, but they HEAVILY favor Democrats, in the House races:

http://www.opensecrets.org/pacs/pacgot.php?cycle=2008&cmte=C00008474

43 posted on 02/27/2009 6:55:16 AM PST by Kansas58
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To: rabscuttle385
The average Obamaidiot says, “Whoopeee!!! I've always wanted to own a bank. Free lunch for everyone!

What???

You mean it doesn't work that way?...”

44 posted on 02/27/2009 7:16:16 AM PST by 444Flyer (Don't beLIEve Obama.............................Never give up, never give in, never give out!)
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To: All

I wonder who is next...


45 posted on 02/27/2009 7:16:47 AM PST by KevinDavis (No one should question our "Dear Leader"!)
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To: concerned about politics

I don’t believe that is his birth name. IIRC, it’s his step father’s name. Not that that is important in the midst of all of these changes to fascism.


46 posted on 02/27/2009 7:16:55 AM PST by twigs
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To: concerned about politics

Byrd, regardless of what else you might think of him, is a constitutional expert. He knows what he’s seeing.


47 posted on 02/27/2009 7:18:06 AM PST by twigs
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To: Wolfie

Actually I think this could be a great job for a corporate raider.

Split off the investment portion (Smith Barney etc.) and sell it off to someone like Charles Schwab.

Take the credit card division and sell it. Or sell it off in pieces for that matter.

The retail bank branches? Sell them off in regional chunks to banks that could use more branches in that area.


48 posted on 02/27/2009 7:21:30 AM PST by RockinRight (How do you like your Savior now, libs? Looks like Jimmy Carter is no longer the worst President...)
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To: livius
I think they will also start replacing executives with their hand-picked personnel, too.

Given that Citi was run by Robert Rubin not too long ago, I would suspect that there are a lot of Democrat party hacks on the board already.
49 posted on 02/27/2009 7:23:52 AM PST by Antoninus (License is the ability to do whatever you want. Freedom is the right to do as you ought.)
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To: twigs

The fact is we don’t really know what his birth certificate name is.


50 posted on 02/27/2009 7:24:31 AM PST by nanetteclaret (I REFUSE TO PANIC. "In thee, O LORD, do I put my trust: let me never be put to confusion" Psalm 71:1)
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