Monday, January 4, 2010

Weill bemoans Citi's fate

In this article Sandy Weill waxes philosophically about Citi's demise and its lengthy sojourn in the financial doldrums.

From the article...

"During a series of recent interviews, Mr. Weill spoke candidly about the loss, frustration and humiliation caused by Citi’s fall. “I feel incredibly sad,” he says."

Let's all cry a river of tears for Sanford Weill. I feel just terrible that the man feels sad. After all, he is still baronially wealthy and while the article refers to him as Citi's creator my humble opinion is he is more like Citi's destructor and that Citi's downfall began the first day he set foot inside the building.

Also, never a man to shy away from the limelight, he is very quick to throw both John Reed and his hand-picked successor, Chuck Prince, under the bus. Whichever way you look at it, Citi is indeed living his legacy.

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