Tuesday, January 13, 2009

Citigroup's loss: $10 billion for the quarter

$100 million a day
$4.2 million an hour
$70,000 a minute
$1,200 a second

Just imagine the losses that Citibank would have, if the taxpayer hadn't stepped in. For more, hit the link:

But now that Citi is going to merge it's brokerage firm with Morgan Stanley, CitiMorg has set aside $2-$3 billion in retention bonuses!

Morgan Stanley and Citigroup are looking at setting aside between $2 billion and $3 billion to keep top brokers at the wealth-management shop the two banking giants are close to combining, The Post has learned.

The whopping payout would be distributed over time as retention bonuses for top-tier brokers that Morgan Stanley and Citi hope to keep as they look to merge their brokerage operations into a 22,000-strong behemoth.

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