Hot Links: Maxine Waters, Bailout Nation and A-Rod

Hot Links for Weekend Reading This week, we watched another episode of half-educated Congressional grandstanding.  This time around, the focus of misguided indignation was how much TARP money ended up being paid out to executive compensation and bonus by the largest banks. The show-stealer was none other than Maxine Waters, the representative of California’s 35th…

New Dow Jones Industrial Average Candidates?

As of this writing, there are 4 stocks in the Dow Jones Industrial Average that are trading under $10 per share (and several others that are close): Citigroup (C) Bank of America (BAC) General Motors (GM) Alcoa (AA) According to Jim Bianco of Bianco Research:  “Dow Jones, the keeper of the DJIA, has an unwritten…

Pandit's Bandits: a Memo to Citigroup's Sponsored Little League Team

Dear Pandit’s Bandits Players and Personnel,

It is with a heavy heart that I must announce my absence for the majority of the upcoming Spring Training season to you, my favorite mini-employees of Citigroup. Our sponsorship of the Pandit’s Bandits little league team has brought all of us here at Citi much joy in these dark times of accountability and prudence.

Good Bank, Bad Bank by Dr. Seuss

Good Bank             Bad Bank Wood Bank           Fad Bank Red Bank               Blue Bank Old Bank              New Bank

Zombie Bank Showdown in the Met Life Building

Cue rolling tumbleweeds… Is the lobby of the Met Life Building (200 Park Avenue) big enough for two bank branches facing each other across a 20 foot hall?  Are New Yorkers so lazy that they literally need an ATM on both sides of the hall? Coming up from Grand Central every morning via the escalator…

Hot Links

Hot Links Weekend Reading: The always erudite Equity Private wrote two great posts this week on Dealbreaker.  The first was a satirical how-to guide to escaping capture after a “Massive Financial Fraud“.  The advice includes “Don’t Watch CSI” and “Have a Plausible Explanation for Why Your Body isn’t Found”. He also wrote a timely and…

Keep Your Filthy Hands Off My Clients' Money, D.C.

Oh Boy.  Talk about adding insult to injury.  The same Washington D.C. that brought us the TARP fund and all the lackadaisical oversight that came with it now has a new way of raising the money to pay for it. It seems there is an academic named Dean Baker, who would like to add a…

The Quesadilla That Changed My Mind About The Bailout

I kid you not, readers, he literally uttered the word “Citigroup” and his quesadilla was packed in a bag with plastic utensils and napkins, and he was out the door. No one asked him for ID or made a note anywhere of what he was eating that day. He just said “Citigroup” and bounced. I was on line to pay behind him with my own chicken quesadilla and a bottle of Diet Pepsi…cost to me as a non-Citigroup employee: $9.85 plus tax.