Published December 18, 2009 at 2:00 PM
Citigroup Inc.'s (NYSE:C) stock closed down over 6% Monday in reaction to the announcement that the bank will repay the Troubled Asset Relief Program, or TARP, $20 billion, but analysts say the news is good over the long term. As The Wall Street Journal put it, "Once the knee-jerk selling and the taxpayer is out of the way, Citi
will be free to become a fat cat once again, and that should be good
for the stock over the medium to long term." Repaying TARP is a sign of "financial strength and management strength" for any bank, said Chip MacDonald, partner, Jones Day, in a video interview with The Deal shot Monday at the NYSE Euronext. Subscribers to The Deal Pipeline may read more on Citigroup's TARP repayment plan here. See the video below or download it at iTunes. - Mary Kathleen Flynn
Goldman, Sachs & Co. veteran Tracy Caliendo will join Bank of America Merrill Lynch in September as a managing director and head of Americas equity hedge fund services. For other updates launch today's Movers & shakers slideshow.
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