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Citi's inappropriate behavior

BANK SHOT: Corrigan finds both sides equally amusing: “Citi's image is tarnished too, if it is possible to tarnish the image of a bank that has managed to find itself at the centre of almost every financial scandal from Enron to the current row over assembly-line mortgage foreclosures, on top of being bailed out by the American taxpayer during the banking crisis. As so often before, the bankers involved have found irresistible the temptation to commit that inappropriate sentiment to email. ‘Congrats!!! Wow—what a price,’ one Citi banker shot off, when the deal was done. ‘And we got paid on both sides of the deal!’… Boies…was outraged by this exchange. ‘They're joking back and forth about how much of a fool they've made of their friend and trusted client,’ he told the court… In business as in life, it pays to know who your friends are. For Hands, a man with a previously impressive track record, there are some even more obvious lessons: do not overpay, do not overborrow—and never mistake your banker for your friend.” (10/20a)

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