To start comparing quotes and simplify insurance-buying, check out Policygenius: https://policygenius.com/wallstreetmillennial. Thanks to Policygenius for sponsoring this video!
In this video we go over the rise and fall of Citigroup, the fourth largest bank in the US with $1.6 trillion in assets. They were hit hard by the 2008 financial crisis and have been plagued by their bloated international operations which have reduced their efficiency compared to other US banks. Now they are trying to rationalize their operations by divesting the majority of their non-US consumer banking divisions.
0:00 - 1:15 Intro
1:16 - 2:21 Policygenius sponsorship
2:23 - 3:49 Citi founding
3:50 - 5:59 Merger with Travelers Group
6:00 - 7:48 Real estate investments
7:49 - 9:37 2008 financial crisis
9:38 - 10:45 Bailout
10:46 - 13:00 Recovery
13:01 Divestitures
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All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #citibank #wallstreet
––––––––––––––––––––––––––––––
Buddha by Kontekst https://soundcloud.com/kontekstmusic
Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0
Free Download / Stream: http://bit.ly/2Pe7mBN
Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
––––––––––––––––––––––––––––––
In this video we go over the rise and fall of Citigroup, the fourth largest bank in the US with $1.6 trillion in assets. They were hit hard by the 2008 financial crisis and have been plagued by their bloated international operations which have reduced their efficiency compared to other US banks. Now they are trying to rationalize their operations by divesting the majority of their non-US consumer banking divisions.
0:00 - 1:15 Intro
1:16 - 2:21 Policygenius sponsorship
2:23 - 3:49 Citi founding
3:50 - 5:59 Merger with Travelers Group
6:00 - 7:48 Real estate investments
7:49 - 9:37 2008 financial crisis
9:38 - 10:45 Bailout
10:46 - 13:00 Recovery
13:01 Divestitures
Sign up to our daily newsletter for free: https://wallstreetmillennial.com/newsletter
Email us: Wallstreetmillennial @gmail.com
Support us on Patreon: https://www.patreon.com/WallStreetMillennial?fan_landing=true
Check out our new podcast on Spotify: https://open.spotify.com/show/4UZL13dUPYW1s4XtvHcEwt?si=08579cc0424d4999&nd=1
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #citibank #wallstreet
––––––––––––––––––––––––––––––
Buddha by Kontekst https://soundcloud.com/kontekstmusic
Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0
Free Download / Stream: http://bit.ly/2Pe7mBN
Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
––––––––––––––––––––––––––––––
Despite the stock market crash I was so excited when I opened my wallet and saw a profit of $70k in my trading account thanks to Alex Marcio my coach
The advert about life insurance is misleading. Life insurance is a scam for most people
bailed out with public money. it should not have been. capitalism sucks
I am here since 10K subscribers. Such a tremendous growth and always very informative videos.
Yield book (fixed income analytics) started in Saloman and became a part of Citi. It has the prepayment model pretty much everyone uses in the US. London Stock Exchange acquired Yield Book in 2017 – with the acquisition of Refinitiv in 2020, they are trying to compete against Bloomberg for data and analytics. It would be interesting if you could make a video on the competition in the financial data/analytics space. Bloomberg, London Stoc Exchnage, Blackrock etc. lots of stuff to talk about
Debts do go away when you die lol, no one is obligated to pay your debts but you. Creditors can not go after your family.
They absolutely need a more risk-adverse management team, but it's hard to argue with a bank that's below book value, profitable, and a reasonable dividend compared to their sector.
Sh-i-t-t-y bank 🏦 used to be great. Now they just self destruct. Citi credit cards are their only quality products now. I do wish they brought back AA partnership, travel insurance, golf ⛳️ benefits, and the Citi Prestige credit card.
never recovered from 2008 huh
The American taxpayers funded the bailout with no vote and then the government class kept the cash. This is tyranny and theft. The US government is a criminal organization.
When u die with no assets ur debts do disappear.
solo mon
I seem to recall Sandy Weill bluffed the US Congress into passing laws to make legal his big merger. He made the merger while it was technically illegal. Congress scrambled to pass the laws necessary to make it legal. The eventual result was disaster. That was many years ago. It was also many trillions of dollars lost by our financial geniuses ago.
First, a 3% interest rate differential is now a low arb rate.
Second, they used CP to buy mortgages and then sold them as CDOs. Made more on that then a simple spread.
You have to learn how to pronounce names like Weill and Solomon.
They opened their first international branch in Santiago, Argentina in 1920.
You brushed over there history; they have almost gone bankrupt, effectively doing so several times and having to be bailed out. You even skipped over the Latin American debt disaster of their own making in the early 80s.
Citibanamex sucks, from their slow app to the 2 hour line outside every bank, thank god they are selling their mexican branch.
Happy to see citi fallen. This bank is a very bad company in the world.
You omitted that the Travelers citi mashup was not exactly, technically, actually legal.
So basically Citi is a zombie bank only allowed to stay in business by the gov.
Yeah I worked for these asshats for almost 20 years; nepotism, cliques. and toxic corporate culture. I love being a nurse now, even through all of Covid.
Not a life insurance ad on WSM…. 😫 why god whyyy. At least it's better than masterworks?