For the record, I think short sellers are a positive force in capitalism, and I acknowledge that CEOs are generally biased in their bullishness on their respective firms.
But a positive and proactive public response to our upcoming retirement crisis would also acknowledge that many who retire do so not by choice but by circumstance, and understand that to rely on the kindness of employers and the good health fairies to keep elderly Americans fiscally solvent is folly indeed.
Citi executives acknowledge the reserve calculations are somewhat up to interpretation, but say they saw positive stabilizing trends in their credit portfolios.