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Citigroup Vote Not the Start of a Trend

The vote against CEO Vikram Pandit's pay package is more about Citi's performance than outrageous executive pay

'Say on Pay' Votes Battle Back Against Income Inequalities

It is a good day for working-stiff schadenfreude when top executives at Citigroup are told by company shareholders that they don't deserve millions of dollars in compensation. Hurray for the 99 percent

Citigroup Announces Plans to Cut 4,500 Jobs Globally

Banking giant Citigroup has announced plans to cut 4,500 jobs globally over the next several months to reduce costs

Who Says Wall Street Isn't Hurting?

You may be surprised to learn which industry has announced the most layoffs so far this year: finance

Wall Street Is Back to Its Old Tricks

After the banks made wildly risky bets with our money, we bailed them out. Congress enacted financial reform (the Dodd-Frank law). But Wall Street lobbyists immediately set about diluting it, along with its regulations. Dodd-Frank is now riddled with so many exemptions and loopholes that the largest banks are back to many of their old tricks

Citigroup Settles $285 Million Negligence Lawsuit

Citigroup agreed to settle a $285-million negligence lawsuit that the Securities and Exchange Commission (SEC) filed that day over a $1-billion investment product linked with the housing market

What Enron & WorldCom Can Teach Us About Goldman & AIG

Newsweek's latest cover story declares that The Great Recession is over. A Merrill Lynch report concurs, saying, 'The recession is over... We are bullish on global equities.' Goldman Sachs is placing riskier bets on the market than it did before the financial meltdown (and setting aside huge amounts of money to pay its executives). The problem is ...

Smoke Billowing Out of Our Economic Mount Vesuvius

There is currently plenty of alarming smoke pouring out of our economic Vesuvius, but it is being dismissed. Don't worry about economic tremors, we're told, our financial system is back on track, the bailout worked and we'll start our slow but steady climb to recovery. But warning signs are all around us ...