What a colourful turn of phrase has Charlie Gasparino, now firmly ensconced over at Fox Business News.
Talking about the future of Citi CEO Vikram Pandit Thursday, Gasparino said that Pandit was 'so to speak, the tallest midget in the room', intimating that Citi's boss would remain in his job because he is doing OK, and there's no obvious replacement out to take over from him. Gasparino's sources inside the company say that they expect Pandit to remain at the helm for at least another year.
In the meantime, The New York Times DealBook column reports that Pandit has said that Citi may be in a position to earn as much as $20bn-a-year by the end of 2012. Speaking at the company's Financial Services Conference in New York Thursday, Pandit said: 'Citi is a fundamentally different company than it was two years ago...No one can serve clients the way we can'.
And Reuters reports that Barclays President Bob Diamond confirmed Thursday that his bank is confident about the strength of fixed income trading revenues. Diamond said: 'We are very optimistic because governments need to finance....(And) that's a core of our business'.
Finally, The Times reports that Malcolm Calvert, the 65-year-old former Cazenove partner found guilty on insider trading charges Wednesday, has been jailed for 21 months.