Category Archives: Corporate governance  Citi Cuts 11,000 Jobs
Rather Than Lower Pay, Illustrating Rentier Capitalism in
Operation  Citi is a particularly blatant example of a way of
operating that has become endemic in American business: when
things get tough, throw as many employees as possible under the
bus, and use that to maintain or even increase the pay of the
top echelon.   Paying Dexia’s Debts: The Risks of Globalized
Finance  American readers may tell themselves that the failures
and stresses of European banks are Europe’s problem. That’s a
simplistic view. Major European banks are significant lenders in
the US, particularly to corporations. And European banks also
fed heavily at the trough of US rescue facilities, as did the
bank in case study, Dexia.  Dexia is a classic example of a not
very sophisticated bank deciding to get into the big leagues and
coming to ruin.   New Zealand’s Company Register: Even More Out
of Control Than You Thought  My last post on this little mess
implied that there was