Dick Bove Angry, Takes It Out on Citi Again

Ladenburg analyst Dick Bove (who understandably underestimated the stupidity of the Treasury and on Sept. 12 stated his belief that "Banc of America will win the auction for Lehman Brothers.") has just whacked his target price for Citi from $14 to $6, and is projecting a 2009 loss of ($1.45), a whole buck lower than consensus estimates. Vik Pandit couldn't care less, as he is currently putting the finishing touches on his resume, and spinning his Old Lane experience in a favorable light. Sphere: Related Content

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Breaking News: WSJ Reports Citi on Way to Dismantle Itself

Whoa, busy day for breaking news

Jan. 13 (Bloomberg) -- Citigroup Inc. is preparing a reorganization that will narrow its focus to two areas, another step in dismantling the financial conglomerate, the Wall Street Journal said on its Web site, citing people with knowledge of the discussions. The company plans to target wholesale banking for large corporate clients and retail banking for customers in selected regions, the Journal said. Sphere: Related Content

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