From
Bloomberg:
Chief Executive Officer Michael Corbat, said “We’ve got to get to a point where we stop destroying our shareholders’ capital.”
At least he understands what they have been doing. If he's serious, why not start by selling the bank off into manageable parts? I just don't see how its possible to efficiently maximize a 2 trillion dollar bank, with 260k employees. The only people this makes sense for are senior management and politicians, as its become the new Fannie Mae, a great way to give bureaucrats a multi-million dollar payouts in thanks for regulations that hurt competition under the rubric of safety.
From Bloomberg:
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