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Home Our Perspective EXCLUSIVE: Mayo Says Citi Can't Be Trusted
EXCLUSIVE: Mayo Says Citi Can't Be Trusted PDF Print E-mail
Written by Steve Meyers   
Monday, 30 August 2010 13:29

Securities analyst Mike Mayo ramped up his increasingly bitter battle with the management of Citigroup (NYSE:C) Monday morning issuing a note stating that the big bank can't be trusted to provide investors with accurate disclosure about its financial

condition or future plans to make money, and that the firm is setting the stage for future problems similar to those that nearly caused the bank to fail two years ago, prompting a massive government bailout.

"We believe that Citigroup’s financial targets can encourage short-term excesses over long-term prudence," Mayo wrote in a note to clients titled "A Matter of Trust." Mayo, an analyst at the securities firm CLSA, added: "Citi has an aggressive financial target of 5% asset growth when so much of its past problems stem from excessive asset growth." READ MORE

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Ron Rebner |2010-08-30 13:34:34
Volume is very weak. A/D ratios are negative by 3 to 1.
Short and Poor! |2010-08-30 13:45:42
Steve,

As all of this unfolds, I hope you and Pastor Neptune would consider making more video content talking about current market and economic conditions in light of Bible prophecy.

The secular world, of course considers that sort of thing crazy. And unfortunately too many churches just don't want to spend much time - if any at all- on the subject. So there is a real shortage of context out there for those of us who see current events happening in light of a larger biblical paradigm.

My hunch is that as things get worse, many will actively be seeking out such videos.
SteveM |2010-08-30 22:08:03
We will do that!
Ron Rebner |2010-08-30 14:50:20
Such silliness and fraud. The PPT had to make sure Ben looked good on Friday.
Ron Rebner |2010-08-30 15:40:41
This was one of the slowest trading days in a while. A/D was very negative at about 4 to 1. On volume it was real bad as on the NYSE it was 13 to 1 and about 5 to 1 on the NASDAQ. Strange day. No buyers with little selling and the market down big. You would have thought the PPT would have stepped in a little more. They had to make Ben look good last Friday but no help today at all? Feels wierd. Any real selling right now and this market would drop like a rock.
nv  - Good example of what needs to happen if it is not |2010-08-30 15:59:18
http://www.moneynews.com/FinanceNews/christiestimulusstate-aid/2010/08/27/id/368592?s=al&promo_code= AA25-1
Ron Rebner |2010-08-30 19:04:15
More evidence of a depression and not a recession:

Record number in government anti-poverty programs

http://www.usatoday.com/news/washington/2010-08-30-1Asafetynet30_ST_N.htm
the elect |2010-08-30 22:36:01
Steve,

I've been reading the Book of Enoch. It seems to bring much together. I know the issues about it and the missuses. I think it a good time to understand the days of Noah. What is your opinion and do you think its time to take a look at it?
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Last Updated on Monday, 30 August 2010 13:30
 

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