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First let's go to the stress test -- McDonald is here with a look at what happens.
To the banks that failed although you don't wanna stick out right they don't like that yet -- don't like that and let's get right to Citigroup is Citigroup this first seven Abbas.
After the news broke about the Fed stress test.
With this statement basically criticizing the Federal Reserve's take on the stress tests than that Citigroup's basically an F passing grade got a pat Green effort on it.
They also put -- -- post on their employee -- today take a look at this statement from its Citigroup is now saying.
About him back to its failure to pass the Fed's stress test is essentially saying that there's there's objection to our capital plan does not equate with quote failing.
This stress -- insiders at Citigroup unless they're saying this about basically we're feeling disappointment -- -- disappointment.
To anger over what the Federal Reserve data and failing Citigroup Pandit is out saying that.
-- still wants to return -- meaningful pay -- back to shareholders insiders at Citigroup saying they had hoped for a dividend increase.
And a stock repurchase plan.
Vikram Pandit last week saying he wanted to stock repurchase plan that an attractive -- security also saying essentially had they -- that Citi wanted to dividend -- -- products.
But CITIC Group insiders are telling Fox Business outlook.
Our operating expenses are way too high.
-- wait too bureaucratic to layer and we need to cut through all that and also you know when you look at -- that banks have rushed out the door immediately.
After the -- started thinking that the Fed reserve stress -- is JPMorgan Chase Wells Fargo.
American Express BB&T US Bancorp and then the laggards were met life.
Citigroup suntrust ally financial -- not which has not publicly traded so the debate is should these banks.
Given -- bad news potentially on the horizon with future losses from you know still real estate and Europe should they even be considering capital raises right now.
Nobody knows this space better than you do what do you think did Citi get -- -- -- I think Citi did not get a raw deal.
In terms of the balance sheet it still has not a boat anchors on it you know and they've been papering over their holes in their profits with accounting moves two thirds of their net income over the last few years.
Came from basically accounting moves so the big question is on Wall Street should these banks be doing.
Things like share buybacks and dividend increases.
To benefit shareholders as they there's a big debate ever at -- whether or not Citigroup should -- be doing that because.
It's split one for ten if you back out the math on that it's still -- trading at where was pre split.
So you know and -- the issue is -- what whereas Citigroup go full without -- what do they do go right forward.
They still want to stick with fed basically a buyback and possible dividend increase death -- -- from Citi insiders are gonna re submit a plan.
Back to you know to the cutters or whether -- -- rejects and or except that that remains to be seen was that Donald thanks so my.
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