Citigroup (C) Sparks War With Popular Bank Analyst
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Citigroup, Inc. (NYSE: C) is trying to stifle popular baking analyst Mike Mayo, who claims the bank is inflating earnings with accounting gimmicks, according to reports from Fox Business Networks' Charlie Gasparino.
Mayo who has been telling clients that Citigroup needs to take a write-down some $50 billion of "deferred-tax assets", has been denied one-on-one meetings with key executives including the CEO Vikram Pandit, CFO John Gerspach and others.
Mayo hasn't had a meeting with Pandit or anyone in Citigroup's management since the fall of 2008, in the heart of the financial crisis, a now a war between the two parties is developing.
A spokeswoman for Citigroup said, "I have no comment on Mike Mayo," Gasparino reported.
May told Fox Business Networks "I'd like to know why all my competitors get meetings with Pandit and the key people there and I don't."
Mayo who has been telling clients that Citigroup needs to take a write-down some $50 billion of "deferred-tax assets", has been denied one-on-one meetings with key executives including the CEO Vikram Pandit, CFO John Gerspach and others.
Mayo hasn't had a meeting with Pandit or anyone in Citigroup's management since the fall of 2008, in the heart of the financial crisis, a now a war between the two parties is developing.
A spokeswoman for Citigroup said, "I have no comment on Mike Mayo," Gasparino reported.
May told Fox Business Networks "I'd like to know why all my competitors get meetings with Pandit and the key people there and I don't."
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