Citigroup apologises to staff over bond trades

[sweetheart]

Citigroup has apologised to its global corporate and investment banking employees for a controversial two minutes of European bond transactions in August that prompted investigations by the UK Financial Services Authority.

Underscoring its adherence to the principles under which big bond players are expected to operate, Citigroup’s head of global capital markets, Tom Maheras, said: “Citigroup is committed to holding itself to the highest standards in its business practices ... However, we did not meet our standards in this instance and, as a result, we regret having executed this transaction. Unfortunately, we failed to fully consider its impact on our clients, other market participants, and our regulators”.
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http://news.ft.com/cms/s/07d10c0c-062e-11d9-b057-00000e2511c8.html

Citibank needs to be reminded by regulators, on pain of being
disbanded from european markets, to behave in accordance with its
stature. Only after a browbeating does citibank retreat from the
position that it was all fair in love and war, and in fucking your
collegues and customers in the markets.... dumb asses. They should
be fined and barred from speculative trading in european debt
for 1 year.

[trotsky]

1. Obviously the solution to this problem is...

LESS regulation and oversight! Just ask gee-dub.

[sweetheart]

2. ha ha, yea really.

citibank thought it was fucking people in its own country, as is
not the whole world belonging to citibank and its cutthroat
version of markets-rule-us-all except citibank who is ruled by
nobody except their board members.

ha ha!! citibank.. meet "the EU" .. barbarians gotta shave the
beards and leave the swords outside... geesh! They screwed over
a buncha banks on MTS, and threatened their own membership and
qualification for a whole lotta european businesses that sees
capitalist financiers as obligated to uphold the social values
of the governments that support their trading environment.

Bottom line, citibank is having a rude awakening. I'm lovin' it. :-)