Citi SHOCKER: Keep the bailout money

[DavidS]

Citi doesn't need more government capital: Parsons | U.S. | Reuters

WASHINGTON (Reuters) - Citigroup Inc Chairman Richard Parsons said on Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands.


Asked in an interview with Reuters whether Citigroup needed additional government capital injections, Parsons said: "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world."


Parsons was speaking on the sidelines of a Business Roundtable event where President Barack Obama addressed business executives.
The Citigroup leader also brushed aside any prospect of the U.S. government nationalizing the giant bank.


"I don't think the administration is heading in that direction," Parsons said. "But I have a lot of confidence in the future viability and strength of a privately held Citi."


(Reporting by John Poirier and Diane Bartz; editing by Carol Bishopric)

 

[Terry]

Maybe because stupid people are actually using those free checks they mail to you. I got some of those today and let me post what the fine print states:

As of January 29, 2009, the standard variable APR for purchases is 18.99% and the standard variable APR for cash advances is 22.24%. However, all your APRs (including any promotional APRs) may automatically increase up to the 29.99% variable default rate if you pay us late, go over the credit line, or make a payment to us that is not honored.

 

[Old Rocks]

Some more of the mechinazations of all these hard working people that deserve to be rich. Lordy, lordy, I can remember when anything above 12 % was considered usery.

 

[Terry]

Mind you I have an excellent credit score too! People who use these to pay for anything should be shot on the spot.