The Spark

the Voice of
The Communist League of Revolutionary Workers–Internationalist

“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx

Finance Is Hard to Please

Feb 17, 2014

On Thursday, January 16th, the stock price of Citigroup, the third largest bank in the United States, fell by 3.87%. And yet, the bank had just announced profits of 13.9 billion dollars for 2013, representing an 84% growth. Its Chief Financial Officer even celebrated the “most profitable year since 2006.”

Very nice, but … the financiers were hoping for even more, and their disappointment registered in a drop in the share price.

It’s not easy to satisfy Wall Street and the sharks of finance!