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]
Bank Of America Hoping Someone In HR Knows How To Pass A Stress Test
Otherwise Brian Moynihan may have to dust off that C.V.
Stress Tests '15: Mike Corbat Gets To Keep His Job, Brian Moynihan Would Love To Catch A Break One Of These Days
Part II of the Fed's stress tests results are out and the good news is that 28 banks passed and Mike Corbat can unpack his things. The less good news is that Brian Moynihan's silent prayer to get lucky just once, just to see what it feels like, was not granted.
11 Year-Old's Birthday Party Victim Of Stress Tests
THANKS FEDERAL RESERVE.