Citigroup reported a loss of $7.6 billion for the fourth quarter Tuesday, although most of the loss was tied to last month’s move by the bank to return $20 billion in outstanding bailout funds owed to the government.
On a per share basis, the New York City-based firm said it lost 33 cents a share, which was in line with Wall Street expectations. Still, the bank said it would have reported a loss of $1.4 billion even after excluding an after-tax charge of $6.2 billion related to paying back the government.
But Citigroup CEO Vikram Pandit said he was encouraged by the progress the company had made over the last year, including the progress of the firm’s massive restructuring program.
(Source: CNN Money)
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so the officers of the bank took massive amounts of the shareholders money, and paid it to the government so they (the officers) could further loot the company (i.e. the shareholders) —
I see why secular education is so important, someone with a mere yeshiva education could never think of such a dubious idea (think, where would Bernie M. be today if he went to heder and yeshiva instead of public school and college)