[fatnotlazy]

Unexpected.

[scooby321]

we are over a Million Job losses now sense the election.

Election do have consequences

[Don Corleone]

"Apres moi le deluge'" Obama

Pardon my French its not my native language.

DC

[ILS21R]

It’s what they voted for.

[OB1kNOb]

Vote for the marxist wind, reap the socialist whirlwind, Amerika.

[pieceofthepuzzle]

Doesn't matter, as long as arrogant morons like Letterman with a network soapbox tells the intellectually lazy masses that Obama is the best thing since sliced bread. We truly live in an incredibly superficial society. Nice to know that all those who died in WWII, and the 10s of thousands of young people who died in Vietnam fighting to prevent the spread of communism made the ultimate sacrifice so that a large swath of American society could live off the government and people could numb their brains watching idiots like Letterman do ‘stupid dog tricks’. What a waste.

[Newbomb Turk]

Not Fired. Released ! Released into the great economy of King Obama !

All is well, panic not.

The King has no clothes.

[Plumres]

This is another Obama story that makes me giggle. You know how many of the Citi workers voted for Obama. Yes way more then half. Elections have consequences! The MSM will not be able to hide the huge recession we are heading for early next year.

[9YearLurker]

Does Zero Hedge have nobody editing their stuff? That fifth sentence in the opening paragraph is a doozy.

[Jimmy Valentine]

Sandy Weill built Citi into an uncoordinated monster. The pieces never really did fit properly but the economy and momentum hid the problems.

The smart thing for Citi to do is an organized break up, selling off the unprofitable and/or unwieldly pieces to right size the place.

[KeyLargo]

“We have identified areas and products where our scale does not provide for meaningful returns,” Corbat said in a statement from the company. “We will further increase our operating efficiency by reducing excess capacity and expenses,” he added.”

[Buckeye McFrog]

ugg....me blameum Fake White Indian.
Citi profits about to be scalped. Ugg.

[Chickensoup]

In our area citi banks were taken over by another local bank with money last month. I figured this was coming.

[PieterCasparzen]

Part of the monsterbank cabal (Treasury enabling, globalist participant, dumping on their customers and rube investors (investing public)).

[BlueYonder]

...both just lost 11,000 less key taxpayers most of whom are almost certainly in the $250,000+ bucket....

Wild, unsubstantiated speculation.

And poorly worded. How do you lose 11,000 “less” key taxpayers?

[southernnorthcarolina]

Not so good for Citi employees.

But lovely for Citi stockholders. As of noon EST, Citi (NYSE:C) is trading at 36.18, up 1.89 (or 5.51%) for the day.

This is a microcosm of the state of the domestic economy under Obama. People who work (or who want to work) for a living are in serious trouble; investors have generally been faring quite well.

[Mase]

Huh?......11,000 employees being laid off "most of whom are almost certainly in the $250,000+ bucket.

I don't think the author knows much about Citibank, or the banking industry in general. He's operating under the same misperceptions as those who rail against the 1%.