re: Citigroup Considering Merger, Reports Say

Anthony Freed — Fri, 21 Nov 2008 06:17:54 GMT

Vik is in a pucker now - he should have spun off the mortgage and CC divisions, killed the dividend, raised more capital and wrote down more of the off-the-books vehicles that are near $100B or something.

Now Vik is looking for a friendly deal before the sharks like Jamie Dimon smell blood in the water.

Hmm, this is a lot like the Fuld / Lehman Bro. story - lots of non-sourced articles like the one above that float rumors designed to prop up a stock an d buy time for a deal.

http://yourmortgageoryourlife.wordpress.com/about/

I used to do competative analysis of the mortgage industry for the big national banks - like Citi - and I can tell you that this is exactly what many people feared would happen when Vik took over.

They needed someone with more vision/