which is what vikram pandit from citigroup said. i want to hear it from anybody.to hear what vikram pandit said on the lips of everybody on wall street and then i think we'll feel better. but they're not. only vikram is saying it. what an honorable guy he is. >> jim cramer, you are the best. jim is a man of the people. he screams a lot. but underneath it is a heart of gold. his heart is in the right direction. if we had all jim cramers on wall street we'd be okay. >> thank you, donny. >> be sure to catch "mad money" at 6:00 p.m. eastern week nights. >>> u.s. iraqi forces dealt a major blow to al qaeda. and vice president biden says it could be potentially devastating to the terror network. it has been 15 years since the deadliest act of domestic terrorism rocked the u.s. are we any better off today? "america the angry" the anger is brewing. can we stop it before the next nut job does something stupid? don't go anywhere. dad, here, look at this. your p.a.d. isn't just poor circulation in your legs causing you pain. ok. what is it? dad, it more than doubles your ris

vikram pandit. >> growth, go by citigroup. some would say i never heard the day that would come out of anybody's mouth. >> this is the best quarter we've had. >> when that conference quarter went on you have david viniar and greg palm, the general council sitting there, does lloyd sit in the room and make wild motions on mute or force him to go into another room? i'm just wondering. >> i think david viniar is fabulous but they'll probably put me in the jurms of jail for saying that. he's a great guy, honest and terrific. you dpee fend these guys these days and someone says cramer is on the take. even i get beleaguered. i'm like a nonstop machine. i am beleaguered by it. >> beleaguered. >> goldman, catch me a couple months, i'll give you the complete skinny. it's too hard. everybody who is playing. i saw the protection the insurance and the puts, they're out of control. there's analyst who is want to make their career bringing down goldman and the reporters who want to make their career bringing down goldman. me, what i say, i

their head, and in terms of referring, in terms of other kinds of restructuring ideas i think vikram pandit is at least a couple steps ahead of wells fargo, very definitely. on the conference call wells wouldn't even talk about their cdo exposure. >> chris, but your rating on citi, even though you upgraded, is a neutral. what -- >> it is a neutral. but given where i was, this is a sea change. >> that is true. all right, contribution we've got to leave it there. thanks so much for joining us. christopher whalen, institutional risk analytics. >> thank you. >> going to take a break here. more "fast money's" up next. >>> with the market splitting down the middle, the broad rally is behind us. so how do you find the best in breed? "fast money" shows you the way. >>> plus, see which under the radar plays are outperforming. when america's post-market show continues. u.s. and foreign stocks online, in 12 markets, 24 hours a day, all from the same account, and settle in u.s. dollars or the local currency. plus, we'll guide you with international research and realtime quotes, so you can diversify you

again, mary thompson monitoring the conference call from citi's ceo vikram pandit and we'll have more for you as we get it. mark, back to you. >> thank you, david faber. here to go inside the numbers on citi, get a check on the latest with goldman sachs, marcia orenbach is managing director the credit suisse north america and anton schutz, president of mendon capital. we'll start with you. first, the citigroup numbers, pretty impressive? >> yes, they are, mark. particularly the $2 billion lower losses than they had relative to our expectations in the fourth quarter. >> all right. so, it's not just a case of easy come. >> no, no. you had better trading, as all the others did. but in addition, you also had significantly lower losses. we'll wait to hear on the conference call how much of that is sustainable. >> and how do you see it kn. >> strong numbers. international is strong, expenses down. shareholders have to be pleased. i guess we as taxpayers that own citi shares have to be pleased. and look forward to making some profit on this investment. >> anton, vikram pandit's comment in th

. >> one thing that was noticeable was vikram pandit saying we absolutely couldn't have survived without taxpayer support and just taking the complete opposite tack from others that feel they didn't need support or just trying to get behind the -- >> that was nice. but the one thing that stood out for me about citibank's numbers is what we said was going to happen is their trading revenue's down 30% because they've sold off a lot of high income assets. and you're saying where is citi's business going forward? fromfrom a trading perspective this was a big problem for these guys. showed up in the numbers. everyone else bank of america was up 12%, jpmorgan up 4%. this is where these guys should be making their money and these guys are not. >> okay. it is judah rhoden. we apologize to andrew rhoden. but they are withholding their votes for andrew liverus and judith rhoden ahead of the shareholders meeting tomorrow. changing gears here, g.i. joe and the transformers grab the headlines. is the success of toys like these -- this is my little pony convertible. these are helping hasbro shares jum

. >> citigroup's ceo vikram pandit is aiming to cut the bank's assets by 40% from the peak. he's talking today and he said the citi strategy is solely banking focused. he's also calling for more derivatives, trades transparency and arguing shadow banking has to be regulated. these are comments he's just making this morning overseas. he says the entire return to the supermarket approach, that is not going to happen anymore. you have to wonder if he is positioning himself for what we're hearing right now about financial regulatory reform, taking place on the capitol, where in some cases some of the liberal democrats say they'd like to really assert themselves, and put very strong limits, including the volcker rule and stronger on what banks can actually do. aig's derivatives unit has reportedly unwound most of the soured mortgage trades of goldman sachs left over after it was bailed out by the government in 2008. the "journal" says the parties tore up $3 billion and credit the contracts at market prices. goldman kept $1.5 billion in cash collateral. aig realized that amount as

outside the hilton where citigroup is holding its annual shareholder meeting, the third meeting for vikram pandit. the last two, the cbo received or heard an earful from the hundreds of investors who attend these annual gatherings. we had a chance to speak to a couple of them before they went into the meeting and asked them to give us their review on the board and the management over the last year. and those reviews were mixed. >> i think they're doing okay. i personally am going to hold on to it. >> i'm here, again, to express my displeasure with the board. particularly the fact that there are still incumbent members on the board that have taken us through this entire financial debacle and reduced our company from what was to what it is now. >> one of those incumbents, dick parsens, arriving earlier today. he's revamped a board which now includes four new members. most of the directors arriving together earlier this morning. now when pandit takes the stage, does he so knowing the company he runs is in better shape than it was last year. fresh off of strong first quarter profit reports, citi is s

has thus the tye ceo harry vikram pandit has said we owe a debt of gratitude to the american taxpayer it is our responsibility to help american families in distress and help families stay in their homes we are committed to modifying loans facing hardship to help americans in this difficult time i a gillette -- joined this the thai in 2008 i manage the efforts to help families pursue their dreams of buying a home, making homes more affordable for assisting those families who may be facing financial hardship. city mortgage has a long history of helping homeowners. last year we originated brokerages to approximately 336,000 homeowners 80 point* $5 billion total. last year we also had to drop 270,000 borrowers and refinance them and in the midst of this highest-- housing crisis we put considerable resources to face financial challenges remain in their homes. we describe lending and foreclosure prevention efforts in detail and a quarterly report we replace -- riposte publicly and report on the website. o.c. tye as for close with the treasury to executing the making homes affordable program

group and it -- citi, first under chuck prince, and then under the group and it -- then under vikram panditplemented major personnel changes. derivative regulations, reflecting my strong views from my time at goldman sacks, that derivatives create -- at goldman sachs, -- resolution of 40 to avoid the moral hazard of too big to fail. -- resolution to avoid the moral hazard of too big to fail. we need to protect american consumers and financial system. with that, i appreciate the opportunity to share my views and would be happy to respond to your questions. thank you. >> thank you, mr. rubin and mr. prince. we appreciate you being here today. pressure willingness to help us in our endeavor. -- we appreciate your willingness to help us in our endeavor. we're going to begin the questioning by commissioners. as chairman, i will start off with some questions for both of you and each of you. so, i want to pick up on your comments about whether or not this institution was too big to manage, too complex to understand, perhaps too big to regulate. for the benefit of people watching today, it appears