How DARE You

Posted by anon anon anon, Nov 28, 2007 10:54AM

Sandy was behind the pitch.

Posted by just me, Nov 28, 2007 10:55AM

If Citibank merged with Thomson Financial, would they become ThitiBank? Tittybank? Or simply no one cares?

Posted by retard, Nov 28, 2007 10:57AM

i don't think she said anything about citi loving her, just her (and carney) loving citi, 10:53 (/shitigroup worker # 398,281,276)

Posted by Ken Houghton, Nov 28, 2007 10:58AM

Now wait a minute. "the world's crappiest bank"? That's a high hurdle to clear, and Citi hasn't accomplished anything recently to make you think they can clear a hurdle, have they?

Yeah, let Ken "CFC is a great buy at $18" Lewis complete the collusion coup initiated in the early 1990s (and proudly boasted about in the BofA orientation film) and have all US banks except MannyHanny be run by people whose sole purpose is exploiting the depositors for personal gain.

Posted by "You believe this guy?" nice, Nov 28, 2007 11:01AM

yes, b/c bess is never prone to hyperbole, ken.

Posted by Dave Chappelle, Nov 28, 2007 11:05AM

DJ Bear Stearns To Cut 650 Positions As Part Of Cost Reduction Page 1/1

NEW YORK (AP)--Bear Stearns Cos. (BSC) will cut 650 positions, or about 4% of
its work force, in further attempts to reduce costs at the battered investment
bank, according to an internal memo obtained Wednesday by The Associated Press.

The job cuts are part of an ongoing review to "best position Bear Stearns for
2008 and beyond," the memo said. Employees that will be cut will be provided
severance, benefits and outplacement services.
A spokesman for Bear Stearns did not immediately return telephone calls for
comment.
Bear Stearns shares are currently up 4% to $99.35.

(END) Dow Jones Newswires
11-28-07 1101ET
Copyright (c) 2007 Dow Jones & Company, Inc.- - 11 01 AM EST 11-28-07

Posted by , Nov 28, 2007 11:08AM

The anon poster on the Opening Bell called the Bear cuts.

Nice work.

Posted by Ken Houghton, Nov 28, 2007 11:22AM

Seeing BofA and another bank in the same sentence--and hearing the OTHER bank, when not WalkAllOverYa, getting described as "crappiest"--was too stunning to leave alone.

A BAC/C merger would be the first one where the projected saving in Administrative Efficiencies would be a large, negative percentage.

Interesting. Bear didn't provide Outplacement Service for the last round (the 3,000).

Posted by finance dudes aren't so good at this stuff, Nov 28, 2007 11:27AM

besides the fact that she was making a joke about it being the world's crappiest bank, it was also a link to "giving them shit."

Posted by what, Nov 28, 2007 11:29AM

There is no way BofA and Citi will merge. Citi has had a tough enough time managing their own size. Mark my words though, BofA will buy a prominent investment bank in the coming years. They won't stop until they own Wall St.

Posted by 1-2, Nov 28, 2007 11:29AM

No woman no crime...

Posted by haha, Nov 28, 2007 11:30AM

"Even though it has no CEO, no wiling candidates for CEO, no money, no women, no prospects, no action and no conceivable reasons at all for even getting up in the morning"

Posted by , Nov 28, 2007 11:37AM

10:58 MannyHanny... Almost forget it existed. My first job, a sleepy preppy place conveniently across the street from R&T. They pulled a coup though by buying the Union Carbide HQ (270 Park) for $17 MM in the early 80s

Posted by Citi, Nov 28, 2007 12:09PM

I like to get the daily news.

Posted by , Nov 28, 2007 12:34PM

I think the Fed would shit kittens if this were even seriously proposed.

Posted by , Nov 28, 2007 12:46PM

Love the Seinfeld quote

Posted by , Nov 28, 2007 12:46PM

I thought a bank couldn't have more than 10% of the domestic deposits and that BAC was already bumping up against that limit. A merger with anybody else, let along Citi could only happen if that cap were lifted...

Posted by anon anon anon, Nov 28, 2007 12:53PM

Think, act first, change the law later.

Posted by Charles Festerbottom, Nov 28, 2007 1:06PM

@ what (11:29 am)

I'm thinking of a quote from Ken Lewis, referring to the hodgepodge of an investment banking disaster that BoA already has. It went something like this: "I've had about as much fun as I can stand in investment banking."

As long as Ken Lewis is running the show at BoA (which could be admittedly short lived), what about that statement from him tells you that he is going to buy a prominent invesment?

"Mark my words"? Bold statement amigo, bold statement.

Posted by Captain Stabbin, Nov 28, 2007 1:33PM

Interesting it took 18 comments for someone to point out the completely obvious that a merger btw C and BAC is retarded given regulatory hurdles, and the ridiculous restructuring, asset sales, etc that'd be required to meet them. CNBC was reporting that sh!t as if it were a legit offer this morning, musta been that Denis guy or (whatever his name is) from forbes workin the story.

Posted by , Nov 28, 2007 4:22PM

If anyone would have read the wsj article, they would have know that shedding most of C retail branches would have been the likely answer to the 10% regulatory hurdle, if the merger would materialize (which it wont).