Word: bankes
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Dates: during 2000-2009
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...Monday, Citigroup said it had worked out a deal to repay $20 billion in government bailout money and terminate a loss-sharing agreement the bank had with the government for Citi's riskiest assets. Citi CEO Vickram Pandit said the moves were signs that his company was returning to financial health. The deal would also remove much of the government's pay restrictions on the bank. "These actions move us closer to ending a very difficult period for our company," wrote Pandit in an internal memo to Citi employees. (See 25 people to blame for the financial crisis...
...analysts say Citi's rush to repay the assistance it got through the government's Troubled Asset Relief Program (TARP) will make the bank weaker, not stronger. The move will reduce Citi's capital ratios and hurt earnings; it may also accelerate a retreat of foreign investors from the company's shares. Worse, the government is demanding stricter terms from Citi than it did from Bank of America on the repayment deal it struck just a week ago. The different treatment shows that the government remains more concerned about Citi's finances than those of its rivals...
...Citi's deal to pay back the government was reportedly hashed out over a week's worth of marathon negotiations following Bank of America's repayment last week of $45 billion in government assistance. Citi did not want to be one of the few remaining big banks still using the government's crutch.(See the worst business deals...
President Obama has proposed new stimulus packages for working Americans and aims to create five million new jobs. While everyone seems to be tightening their belts on spending this holiday, you won’t break the bank by similarly helping someone with their business. According to the World Bank, nearly one and a half billion people survive on less than $1.25 a day. Whether it be helping a basket-weaver in Ecuador or a sheep-herder in Kazakhstan, the organization Kiva.org allows you to play banker by investing small amounts of money in someone’s start...
...Moved to New York City after college and lived there until 1990. Worked for investment bank Lazard (then known as Lazard Frères & Co.), rising to vice president of mergers and acquisitions...