Citi AIG tax and dwindling returns

Posted in After the Bell

The Dow showed promise but, perhaps as expected, slipped again towards the end of the week and Djia, as most markets, closed in the red. Citigroup financial services went from about 1 dollar to testing the 3 dollarmark. On the Citi reverse split it dropped som 13% but ended the week at 2,62. If you grabbed Citi at the dollar congratulations but the dark clouds may be creeping back in.

The fasttack legislation of the bonus tax cannot have made AIG and their heads very popular on the executive market. Now, every major bonus will be live on the radar – and many many takers all accross the corporate industry must have had a couple of sleepless nights designing imaginative punishments to the AIG gang who have now brought all the rest under the politically empowered socio economic media blazing headhunt. AIG Rage revenge is a good read over at NewYork Times :)

Well, spring is a time of growth and nurturing but on the financial markets, the last weeks bloom might be misgrowth as the real consumerism drought has yet to hit the numbers. Exciting times are yet to come.

Related posts:

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  4. Paper dollar woes and good reading
  5. Dow Live Report week starts wednessday

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This entry was posted on Saturday, March 21st, 2009 at 1:45 am and is filed under After the Bell. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Citi AIG tax and dwindling returns”

  1. More AIG bonus payouts incoming | Dow Live Report Says:

    March 21st, 2009 at 2:08 am

    [...] with the latest rage about the AIG bonuses and the new tax legislation I expect the rest of the payouts to be eliminated by the takers [...]