Vikram Pandit's Best Quarter Ever!
• Citigroup chief Vikram Pandit says the bank is "having the best quarter since 2007." Good news. Don't pay any attention to the fact regulators are making "contingency plans" in case Citi "takes a sudden turn for the worse." [BN, WSJ]
• Yet another Citi misstep: In addition to $3.5 million in gift cards, the bank gave out $13 million to employees whose vacations were canceled. [BN]
• Andrew Cuomo's assault on Bank of America continues: He's sent a new letter to BofA chief Ken Lewis demanding information on bonus payments—and he even had Barney Frank co-sign it. That will definitely do the trick. [NYP]
• Lehman's buyout division is back in business under new ownership. [FT]
• Boutique investment banking is back, in case you didn't hear. [DB]
• A firm that JP Morgan inherited when it took over Bear Stearns was sold to Barclays for $30 million. Bear paid $625 million for it in 2001. [WSJ]
• The jobless rate may reach 9.4% this year, a new survey suggests. [BN]