Thursday, August 07, 2008

Well Said

from Barry Ritholz's Big Picture blog:

"Take A Report, the outrageous, raunchy, and at times, hysterically funny anonymous blog from an unknown Trader has been outed -- and fired.

Large -- thats the pen name of the trader/blogger who writes Take A Report -- worked at Citibank, and was shitcanned for "blogging during company hours." Or at least, that's the excuse they gave. (WHOOO-HOOO! Thirty day weekend!)


Here's a boffo idea:
Citigroup should swap out their Risk management team (who missed billions of dollars in bad buys of garbage paper) with their Compliance team -- who somehow spotted an obscure blog that never even mentioned Citi's name.

Someone should inform Citigroup Chief Executive Officer Vikram Pandit that the more important division is asleep at the switch, while the lesser division (AKA Department of Business Prevention) is sharp as a tack."
Well said Barry, nothing to add but quotation marks.

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