Earlier this week, Angelo Mozilo told Countrywide shareholders that Bank of America will "reap the benefits of what we have sowed." At the time, this was the greatest veiled threat we had ever heard. This morning, Citi CEO Vikram Pandit one-upped His Orangeness. And just to make sure everyone saw it (the one-upping of Moz and the actual threat itself) Lil' Vik stuck the the thing in an op-ed for the Journal (it's like he's playing to us, isn't it?).
In the U.S., we recently saw the unprecedented opening of the Federal Reserve discount window to nonbanks. By definition, unprecedented events set a precedent. And regardless of whether that window is officially opened or closed, the market now assumes that it will be open if necessary on an ad hoc basis.-- Vikram Pandit
Below are subsequent graphs that were excised by the Citi PR department:
"What I'm saying is, leave your window open, and you have only yourself to blame for the shit that comes a-crawlin' in."
"Here's an analogy I'd like to lay on your ass. A vampire can't just waltz on into your house uninvited, he has to be asked first. But now that you bitches have opened your hearts and said mi casa es su casa, Count Vikula will be unbuckling his belt and gettin' comfortable for while."
"Ipso facto, fuckers: I am going to ride this bitch like Sea Biscuit, until it or Citi is six feet under. Place your bet on which comes first. You know I have."
Toward a Transparent Financial System [WSJ]