"Citigroup Inc Chief Executive Officer Vikram Pandit has written President Barack Obama endorsing “strong regulatory reform” for U.S. banks. What’s more, Pandit wrote, “You can count on me and the entire Citi organization to support” Obama’s reform efforts.
Of course, the U.S. government OWNS 27% of Citi, so one shouldn’t be surprised at this. And even without the direct ownership, Citi has no more interest than other big coprorations heavily dependent on government regulation and increasingly at the mercy of discretionary, not to say arbitrary, government action, in antagonizing the Obama administration or Democrats in Congress—especially since the administration and the congressional Democrats have shown a willingness to go after those standing in their way."
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