After several years of banking only with companies, Citi has decided to jump with both feet into Africa’s most populous nation, with its regional head announcing plans to open a consumer banking franchise in Nigeria (schedule unknown.) The country of 165 million people is apparently “at the top of the list” of Citi’s African prospects. Continue Reading
When it comes to TARP the Government Accountability Office is like that annoying acquaintance that everyone tries to ditch; it just won’t shut up. You see, the 2008 legislation that authorized TARP also authorized the GAO to write a progress report on the bailout program every two months. It doesn’t always make for pleasant reading. Continue Reading
MF Global may prove to be yet another example of how meaningless the word “bonus” has become. One of the trustees overseeing the broken firm wants to pay out hundreds of thousands of dollars to three executives who used to report to Jon Corzine, the former CEO. This sounds bad, but some important details make it even worse. Continue Reading
Here were our most popular stories on the Finance Addict this week. And, of course, the GIF of the Week after the jump!
- Is Germany about to lose its best friend?Is the Netherlands about to abandon the eurozone austerity clique?
- Flyjin: the ultimate world travelers.In the wake of Fukushima a fascinating contrast emerged in Japan: the stoicisim of the Japanese vs. the infidelity of the flyjin.
- Crowdfunding to hit the big-time.Crowdfunding is just the investing equivalent of crowdsourcing: using the internet to ask for the funds needed to get a project started.
- Barclays wants to use you.Barclays wants to harness the wisdom and attention of its customers. Should you trust it?
- BBA channels BBC Comedy in Libor defense.The BBA has put up a very defensive blog post in response to a Bloomberg article on Libor, but it’s completely disingenuous.