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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (42844)	11/17/2008 5:27:56 PM
From: TobagoJack	Respond to of 217882

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To: Joe S Pack who wrote (42844)	1/9/2009 8:09:01 PM
From: elmatador	Read Replies (1) \| Respond to of 217882

Citigroup's Rubin Resigns amid rumors of a Smith Barney sale, giving investors serious doubts about a turnaround for the bank . "There Will Be More Dead Bodies" The announcement was made amid rumors that the bank was in negotiations either to sell its Smith Barney brokerage unit or to merge the brokerage outfit with Morgan Stanley (MS). Similar buzz circulated last month surrounding the bank's possible merger with Goldman Sachs (GS). The dual headlines have some investors convinced that their worst suspicions would be realized: that more bad news is in store for Citi shareholders. "When you look at the Rubin resignation in conjunction with rumors about this joint venture, it would lead me to believe more losses to come down the pipeline," says Bill Fitzpatrick of Optique Capital Management. "There has to be some accountability in terms of their leadership and that includes the CEO and the board of directors. If Rubin had stuck it out, I'd say he was in for the long haul and maybe there was a turnaround in store. When I see this, it's clearer that they'll have to raise more capital and so on. There will be more dead bodies." businessweek.com