NEW YORK (TheStreet) — If the sky is blue and you need to make it grey for some reason, hire a consultant.
That appears to be the strategy employed by Citigroup during the crisis, when, at the urging of regulators, it reportedly hired consulting firm Bain & Co. to look at the feasibility of separating its investment banking and commercial banking operations, according to Reuters.
Bain’s report, “concluded that tax considerations made a breakup inefficient,” Reuters reported, citing an unnamed source. …
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Here is the original post: Citigroup Breakup Taxes the Imagination: Street Whispers
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