Stop Beating Up Citigroup For Awhile…
I’ve been a major dissenter against Citigroup, Citicorp, Citibank… whatever you want to call them, for many years. They were the poster child of bad banks, falling apart to the point of nonexistence and taking this country and many other countries down with them. As they fumbled around trying to recover, I felt almost gleeful in commenting on as many bad things as I could about them.
There seems to be a change afoot, to the point where I’d been wondering why I wasn’t hearing things about them. I don’t go searching for trouble, but it had been on my mind. On a recent trip, I needed to buy something to read and I picked up a Fortune magazine that had a story about Citigroup and it’s relatively new CEO, Michael Corbat, a former Harvard football player who’s been the consummate banker with the corporation for decades, coming up the ranks until he ascended the top job. And in his easygoing, personable way he’s helping the company grow and get itself in shape.
I decided to do a video about it instead of writing the whole thing and I believe it’s the first video on this blog created specifically for it. Financial commentary; what a concept: