Citi has essentially become, in the eyes of the world, a government-run bank. You can't accept more than $350 billion in direct support and guarantees and not be viewed as such. The likes of Tim Geithner can look CEO Vikram Pandit in the eye and rightly say, "We own you." Government officials can also influence some big decisions. Most think the government is behind Pandit's move to sell assets.

So what to do with Citi's $400 marketing deal with the Mets? Some politicians are making noise about it. Certainly, it looks bad for the bank, thought it pledges it will not use TARP funds for such marketing. The deal hadn't generated a lot of outrage but it's a good bet that Citi will have to find a way to unwind it. This is yet another sign that Citi's future is rather dim. Will normal business be possible?  

For more:
- here's the Reuters article

Related Articles:
Citigroup news from FierceFinance