Opening Bell: 01.11.10

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Banks Brace For Bonus Fury (WSJ)
(Some) banks are going to pay (some) people with much more stock than cash which might leave them asking for money on the streets. Really! Seriously, not just a bluff: "I don't think it's just whining," said one person at a Wall Street firm. "There are legitimate liquidity issues that people have."
Investor Alwaleed says Citigroup "on right path" (Reuters)
FYI, according to its favorite shareholder, the "worst" is "behind" the Big C. All good in the hood.
Geithner Has Support of Obama, Democratic Lawmakers, Aides Say (Bloomberg)
So if you thought you were going to start shit, Rep. Issa, think again. Asked yesterday for comment, White House Press Secretary Robert Gibbs said he stood by his earlier statements that the president had full confidence in Geithner. Jim Manley, a spokesman for Senate Majority Leader Harry Reid of Nevada, said "Secretary Geithner enjoys the strong support of the Senate Democratic caucus."
U.S. Bankers Are Fed Up With British Regulations (NYT)
Surprise! People don't like the 60 percent tax so much.
Thiel Gets A Tanning (NYP)
Peter Thiel's Clarium Capital lost 10 percent in December and ended 2009 down 25 percent. CC now has 1.33 billion in assets under management. At the start of the year, it was $2 billion. His hedge-fund assets peaked in 2008 at more than $7 billion
Are They Really? (NYT)
The Times editorial board is skeptical that all the bankers who've been apologizing lately are actually really sorry. In case you thought you were fooling anyone, Lloyd.


US banks braced for bonus backlash (FT)
Andy Stern, head of the Service Employees International Union: "They backed the truck up to Fort Knox in broad daylight. They emptied it out, we rescued them and they get $150bn in bonuses."
Dimon Leading Dividend Race as Pandit Sweats Next Test for Post-TARP Banks (Bloomberg)
Give it up for Bloomberg, for putting the image of Vikram's pit-stained button-down in your head this morning.
Citi Unit Grows-- With Fed's Help (WSJ)
Citigroup's Global Transaction Services unit, or GTS, zaps more than $3 trillion around the world each day for hundreds of corporations and dozens of governments and agencies, including the Federal Reserve. It converts currencies for the Fed, processes all passport applications for the U.S. government and handles U.S. military payments to Iraqi contractors.

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