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Washington, DC – Chair Warren and members of the Panel, I am Vikram Pandit. I appreciate this opportunity to appear today as the Chief Executive Officer of Citigroup.
Citi today is fundamentally different from the company we inherited when I became CEO two years ago. The write downs Citi took during the financial crisis – together with concerns about the quality of some of our assets – led to questions about the Bank's financial condition. Now, as a result of the government's response to the crisis, our new team's focused strategy and the commitment of all our employees, I am pleased to say we are in a far different and much healthier position. Today, Citi is operating on a very strong foundation and is positioned to contribute to the economic recovery and generate sustained profitability for the benefit of all our stakeholders.
http://www.citigroup.com/citi/press/2010/100304a.htm
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Citigroup Inc. (C) stock is down 38% in 2011, Down 31% in the past 6 months alone, but only down 3% in the past 3 months. C stock has been one of the stronger financials lately.
Citigroup Inc. (NYSE:C) recently did a reverse stock split and is testing major support in the low $40's now.
http://www.stockstobuy.org/forum/topics/citigroup-inc-nysec-stock-2
Citigroup Inc. (NYSE:C) falls below $4.40
http://www.stockstobuy.org/group/citigroupcstock/forum/topics/citig...
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