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Northern Trust CEO Tells Barney Frank To Shut It

An emotional, ill-thought out letter sent to Northern Trust CEO Frederick Waddell by Barney Frank, Chairman of the House Financial Services Committee, on the subject of The Northern Trust Open got the response it deserved. Waddell simply told Frank (politely) to get back in his crib, and get his facts straight.

Citi - What The Smart Money Says

As the US government confirmed Friday that it is to take a 36% equity stake in Citi by agreeing to convert up to $25bn of its preferred stock into common, and the firm's shares fell 40%, here's what the smart money had to say about the deal:

Citi's Third Government Rescue - Press Release

Friday - 'Citi today announced it will issue common stock in exchange for preferred securities, which will substantially increase its tangible common equity (TCE) without any additional U.S. government investment. The transaction is intended to build Citi's TCE to a level that removes uncertainty and restores investor confidence in the company.

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