Citi - 'Grows Like A Weed'

Bloomberg reports that just as Citi CEO Vikram Pandit has made a big thing about becoming the 'largest emerging-markets financial-services company', investors appear to be pulling out. And cynics are starting to wonder if Citi has got it wrong again.

The news channel reports Credit Agricole analyst Mike Mayo, who has said: 'If it grows like a weed, maybe it is a weed. They've had risk-management mishaps. We're not convinced the culture has changed enough to prevent similar mishaps from occuring'.

In the meantime, CNBC reports that Citi has topped one league table that it won't be proud of - the list of companies that received the biggest assistance from the US government during and after the financial crisis.

The TARP Congressional Oversight Panel has just issued its final report, and this reveals that Citi received $476.2bn in cash and guarantees from US taxpayers. Bank of America came in next on $336.1bn, with Morgan Stanley back in third place on $135bn.

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