Ncitibank memo plutonomy pdf merger

A love story, michael moore unveiled two explosive memos written by citi analyst in 2005 and 2006. In october 16, 2005, citigroup came out with a brochure for investors called plutonomy. The world is dividing into two blocs the plutonomy and the rest. Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. Citigroup plutonomy report part 1 oct 16, 2005 the world is dividing into two blocs the plutonomy and the rest. Plumeri worked on the postmerger integration of the two companies and was appointed ceo of citibank north america by weill and reed. Michael moore highlights a confidential report that citigroup initially circulated only to its wealthiest customers. Internal citibank memo about the trending of the rich to get richer, the gap between rich and poor to increase and how they plan to replace our system of democracy with a. Although they havent figured it out yet, this is really what the occupy movement is protesting. A love story 6674234 citigroup oct162005 plutonomy reportpart1. The memos coin the term plutonomy and describe in glowing terms citi s view of a u. Our pdf merger allows you to quickly combine multiple pdf files into one single pdf document, in just a few clicks. If it disappears from there, hunt for the filename citigroup oct162005 plutonomy reportpart1. In the must read, october 26th, 2005 leaked citigroup memo, titled equity strategy, plutonomy, buying luxury, global imbalances the fear of a potential backlash against the plutocracy is discussed at length.

There are rich consumers, and there are the rest look up plutonomy in wiktionary, the free dictionary. Two bombshell documents that citigroup s link to the second memo pdf called. Originally posted by chuckmann sorry i missed the beginning of this thread. Equity multiples appear too low, the profit share of gdp is high and likely going higher, stocks look likely to beat housing, and we are bullish on.

Leaked citigroup memo corporation, government, bailout, economy economics page 12 citydata forum. John ruskin is quoted as having referred to plutonomy as a base or bastard science. Fears that rising income inequality and concentration in political power are being exacerbated by financial markets finds support in an internal memo leaked out of citi group that caricatures the united states, united kingdom and canada as plutonomies. Both reports were leaked and made available on the web. Citigroup plutonomy memo pdf ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in to describe a country that is defined. Buying luxury, explaining global imbalances by ajay kapur, niall macleod and narendra singh. Another global merger boom since the time of nitzans writing is. In 2005, citigroup came out with a brochure for investors called plutonomy. Realitybase readers know that i think this is in large part due to. A plutonomy is an economy powered by the wealthy and characterised by growing disparities between the top 1 % of society and the rest. But now citibank is trying to suppress revisiting plutonomy.

In 1938, the creation of the federal national mortgage association fannie mae provided a market for federal housing. The fha made home ownership possible for many americans by introducing low downpayment, longterm fixedinterest, selfamortizing loans. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and largely consumed by the wealthy few. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. In the october 2005 note, the analysts said that plutonomies have occurred. It is still available here, but for how much longer. The company was formed by the merger of banking giant citicorp and. Since 2000 was the peak year in equities, and the top 1% of households have a lot more equities in their net worth than the rest of the population who tend to have more real estate, these data might exaggerate the u. Heres a leaked memo that citibank sent to its top investors in 2005. The other citigroup plutonomy memo mentioned in michael moores.

All contributors at politicalgates are individually responsible for their posts, and all contributors express their individual opinions in their posts. Yes, they are real, and instead of being discussed on mainstream media outlets all over america and beyond, citigroup was surprisingly successful so far in suppressing these memos. Politicalgates bears no responsibility for comments. This article offers a study on the plutonomy of dominant owners and what their. Buying luxury, explaining global imbalances urging investors to put money into a plutonomy basket here are my favorite excerpts. Among the topics for discussion is the threat of societies demanding a more equitable share of wealth. Concentration of wealth and spending in the hands of a few, probably has its limits. Leaked citigroup memo corporation, government, bailout. The other citigroup plutonomy memo mentioned in michael moores movie is. Memorandum of understanding on merger between mizuho.

The memo citigroup doesnt want you to see bill black white collar criminologist william black dissects a 2005 citigroup memo intended for its wealthist clients that describes the us, uk, and canada as plutonomies countries where rule by an ultrarich managerial class has replaced democracy. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this rep ort. In september 2006 citigroup published a report which they files6674234 citigroup oct162005 plutonomy reportpart1. I went to see michael moores new movie, capitalism a love story. A few months ago i wrote in this blog that the uk is turning into a plutonomy. Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us the nonplutonics could be kept in the dark about the plutonomy existence, its role, and its overarching control in the american. It urged investors to put money into a plutonomy index. The march 2005 plutonomy memo, quoted above, has been taken down from the linked site at the request of citi. The company was formed by the merger of banking giant citicorp and financial conglomerate travelers group in 1998. The brochure says, the world is dividing into two blocs the plutonomy and the rest. Ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in 2005 to describe a country that is defined by massive income and wealth inequality. Download all posts by politicalgates about the faked pregnancy as pdf.

Much of the recent increase in inequality in englishspeaking. Yasuhiro sato mhfg, as publicly announced on september 16, 2011, in the actions toward integration by merger, etc. The citi memo argues that in a plutonomy, the flush and confident rich cut their savings and spend more on the increasingly expensive luxury goods, and their lack of savings skews the averages. Rearrange individual pages or entire files in the desired order. Wait, now that i look around, i see that yves smith at naked capitalism posted about this on october 15, 2009, almost three years ago, and called for people to protest the annual meetings of the american bankers. If plutonomy explains away many conundrums that our equity. In a finder window or on your mac desktop, combine one or more files into a pdf. Before the creation of the federal housing authority fha in 1934, relatively few americans owned their homes. Politicalgates is a blog with an educational, noncommercial purpose. Citigroups shocking plutonomy reports ht michael moore. Plutonomy the citigroup plan for the megarich at cost to everyone else. Nsa leaks paranormal the citigroup plutonomy memos.

Travelers was subsequently spun off from the company in 2002. And of course, anybody who brings up the political agenda of groups such as mont pelerin or documents such the powel memo or the one above is made out to be a lunatic. Open your eyes october 26th, 2005 leaked citigroup memo. Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Memorandum of understanding on merger between mizuho bank, ltd. Two bombshell documents that citigroup s lawyers try to suppress, describing in detail the rule of the first 1%. Citi strives to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible. Proving theyre not just a onehitwonder, the citigroup analysts are at it again. Citigroup attempts to disappear its plutonomy report which shows that the us economy is designed to increase income inequality and should be expected to do so in the future. The term plutonomy first appeared in a memo sent by the global bank citigroup to its wealthiest clients. Leaked citigroup memo shows economic domination agenda of. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this repor t.

Citigroup research is a division of citigroup global markets inc. Old news, but not enough people know it this is old news, but old news that most people dont know about, because citigroup has been. Citis merger with travelers group in 1998 blew apart the. Plutonomy entered the language as late as the 1850s in the work of john malcolm forbes ludlow. It was moving, funny, and educational, all rolled into one. Plutonomy the citigroup plan for the megarich at cost. Financial markets and the growth of plutonomies springerlink.