Monday, August 30, 2010
Is Citigroup untrustworthy?
The spat between Citigroup (C) and CLSA analyst Mike Mayo continues. This time the veteran bank equity analyst is calling foul on the issue of "trust" when it comes to the bank's management team.
"While Citigroup has positives, such as better capital markets, improving credit and emerging market positions, our concern around trust reflects a long-term consideration," Mayo told clients in a research note Monday.
It does not get better from there.