Lunchtime(ish) Links: Citigroup, oh dear

Just when it seemed safe to return to C, it turns out that it may not be after all.

After a very lukewarm reception for yesterday's $20bn share issue, the US government is having second thoughts about trimming its 34% Citigroup stake in the next six to twelve months as planned, and will now dispose of it gradually over 12 months.

The way things are going, investors point out that the US government could have a stake in Citi for some time. As such, it will also have a stake in Citi's pay.

BNP Paribas chief exec says the French bonus tax is a handicap. (Bloomberg)

In recent days, officials in Frankfurt have been making an aggressive pitch to financial institutions to migrate business from London. (The Times)

Some of the most senior bankers in Britain are planning to convince the Treasury to drop the new 50% tax on bonuses by dangling the prospect of a combined contribution to the exchequer of 2bn. (Guardian)

The bonus tax may turn into an election trump card for Labour. (Bloomberg)

The entire taxpayer-funded rescue might have been unnecessary if bonuses and dividends had been shaved by as little as a fifth in the years before the crisis. (The Times)

BofE's Andy Haldane says bankers moving overseas to avoid the super tax is a 'price worth paying' for the achievement of stability. (Guardian)

Basel will block banks from paying dividends or bonuses if capital falls below a certain level. (Financial Times)

Why are banks holding so many excess reserves? (Alea)

Wall Street 'Transaction Tax' would raise $150 Billion per year, (Alea)

It's ok: Moynihan is just another an alpha male workaholic. (Financial Times)

RBS Christmas party cash will buy two pints of beer and a packet of crisps (what happened to the karaoke? (Financial Times)

Highly educated professional women are the heaviest drinkers. (The Times)

How to lose money fast: open a business. (CNN)