8:06pm: Officials turn up heat on troubled insurer: Obama says he wants to block $165 million in bonuses. New York AG vows to force firm to name execs. More

Look like AIG CEO Edward Liddy is the 1st to get the sack. He has just got job done ..he has choosen the most easy-est way to get it done, the 1st to be let go...

"It makes me angry. I slammed the phone more than a few times on discussing AIG," Bernanke said. "It's _ it's just absolutely _

AIG, which has avoided bankruptcy only because of $170 billion worth of taxpayer funding,

http://money.cnn.com/2009/03/15/news/companies/bloch_aig/index.htm

(CNN) -- Under pressure from the Treasury, insurance giant AIG - Liddy pledges to reduce 2009 bonus payments - which AIG refers to as "retention payments" - by at least 30 percent. Liddy says the unit's 25 highest-paid contract employees will reduce their salaries to $1 this year and all other officers in the unit will reduce their salaries by 10 percent. Other "non-cash compensation" will be reduced or eliminated.

The company, which lost a record $62 billion dollars in the fourth quarter of 2008, has more than 74 million insurance policies issued in 130 countries around the world.

The London-based unit responsible for issuing the risky credit default swaps - basically insurance against losses from bad loans - which on several occasions has brought the company to the brink of collapse, about the long-term consequences of the actions we are taking today."

A recipient of at least US$170 billion in federal bailout money - is scaling back bonuses and compensation for some of its top-earning employees. if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury." the company will have trouble attracting and retaining "the best and the brightest ...

teeth53 thot: the door is always open and they can most welcome to leave and why trouble attracting them when they are about to bring AIG to brink of collapse, somemore what bonus they want...Ya

Wall Street tries to stretch the rally. Major gauges inch higher one day after big advance. DOW  29.39  +0.42%  6,955.88

teeth53 thot: One up for Citi's the bright spark, Citi is 1st bank withstood the tough test, this's good news leading market to it best day of '09. The Dow finished at 6,926.49, its highest close since late Feb. All 30 of the Dow industrial stocks gained ground. Citi itself finished at $1.45, a gain of 40 cents.

http://sg.news.yahoo.com/ap/20090311/twl

Citigroup Chief Executive Vikram Pandit said in a letter to employees that the bank had operated at a profit for the first two months of this year and was on track, based on historical trends, to make $8.3 billion for the quarter.

Pandit said the bank has had its best performance since the third quarter of 2007, the last time it booked a quarterly profit.

Meanwhile ia all depend on....see www.money.cnn.com for more info...

http://sg.news.yahoo.com/afp/20090310/tts-finance-economy-world-c1b2fc3.html

World faces 'Great Recession': IMF chief...

teeth53 thot: Citi is one bank withstood the tough test, mindset of share holders and majority of independent directors must have single minded set for setting those record strengthen and old rules n regulation must be ween out.

http://money.cnn.com/2009/03/10/news/companies/citi_profitable.reut/index.htm

Citigroup Inc profitable in the first two months of 2009 and is confident about its capital strength after tough internal stress tests, Chief Executive Vikram Pandit told staff in an open letter. The New York-based bank has received $45 billion from the taxpayer-funded Troubled Asset Relief Program (TARP), and last month agreed to give the government up to a 36 percent equity stake in the company to bolster its capital base.

Pandit said that deal would leave Citi "the strongest capitalized large U.S. bank as measured by tangible common equity (TCE) and Tier 1 ratios."

teeth53: Those need to go is those w/o solution are those old foxes and not the organisation

Coming soon to a screen near you! Good luck.

Time to kill the big banks?

Two key Republican senators suggest that troubled big banks should be allowed to fail. It is an idea with merit but it may not be that simple.

Only lately i bought 1.5k of citi (just to try). Drop somemore... Not sad for my case as it is small sum only. I'm ready to forego as it is just a very small portion of my porfolio. Intend to buy a bit more later on just ot bet on it and keep long long term.

However, actually i'm very sad to GIC and TH losing money. Indeed we should cry together...will take a long long time to recover... Sad....They should use the 30% buy first , then scale up on 30% profit. If lost 20%, cut loss... I'm trying this and it works quite well. The lesson here is never put all your eggs in one basket. Anything can go wrong...