As I noted below, in the latest CBS poll, 49% of Americans think Obama has done "too much" for banks. One of the big banks just announced its quarterly results. Citigroup lost $7.6 billion:
Citigroup Inc posted a fourth-quarter loss of $7.6 billion after taking charges linked to repaying government bailout funds.Citigroup's CEO was one of the three banking leaders, along with the heads of Goldman Sachs and Morgan Stanley, who blew off a meeting with Obama last month.
The results were in line with expectations, and the bank's losses from bad loans declined from the third quarter. But compared to a year ago, losses on consumer and corporate loans were still steep, and the decrease from the third quarter was not enough to reassure investors who had been hoping for more decisive signs that the worst in credit losses was over for Citigroup.
Meanwhile, CNBC has a report yesterday that bonuses at Citigroup in 2009 will be the same as those in 2008.
