Guy Tasked With Getting Citigroup Passing Grade On Stress Tests Has History Of Not Taking Sh*t

Particularly from traders fond of making arguments along the lines of "You can't tell us what to do! You're not our real dad!"
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Ms. Bair calls Mr. McQuade “one of the few instances regarding Citigroup where Tim and I finally agreed,” referring to Timothy Geithner , then the president of the Federal Reserve Bank of New York. Mr. Geithner declined to comment. When he became head of Citibank in 2009, Mr. McQuade ruffled some feathers by shutting down trades that were inappropriately being routed through Citibank, an unpopular decision among the traders who were doing so, according to regulators and colleagues who worked with him. “They said, ‘You can’t tell us what to do,’ and he said, ‘Well sorry, I’m the CEO of the bank,’ ” said one former colleague. [WSJ via Lauren LaCapra]

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Citi Will Try The Stress Test Again With A $9bn Stock Buyback

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