Citi (C) Loses $12 Billion (C)

Alexius12 at 08:00 2009-01-17 said:

After shutting down 95% of their wholesale, Citi started sending their retail business to Amerisave.com when their existing clients call them to refi. That on itself is worry some. Amerisave has to be one of the worst ethical offenders out there. I give Citi 7 more months before they are history...Funny, they always tried to impress us on how big and important they were...

When their stock rebounded a bit from their below $4 trading less tan two months ago, their own employees were swindled into believing that they could make a killing buying. I now some of ther retail reps bought at $5-6 days after. I warned them not to buy. Very sad. Today trading below $4. Citi's own corporate executives and directors seem to have no shame.

Lesson; everyone and everything is replaceable sooner or later. Whether your are Bank of America, Flagstar, HSBC, etc... Humble up and take care of your clients, even when you think you are King. Took me a while to understand and believe this, but obviously less than these clowns.

http://www.google.com/search?q=amerisave%20sucks&ie=utf-8&oe=utf-8

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