I won’t find any $C stories this morning on The Stocktwits Blog Network because investors and traders that work for themselves for the most part are looking for ideas. Our network of contributors moved on from this years ago. There are only jokes and misery in Citibank, no story. The stream is ripping with links and thoughts….that makes more sense to me, but it is a stream I will avoid for a few days.

I am not sure why it’s big news that Shittybank CEO Pandit stepped down today. He only overstayed his welcome by about 4 years and change.

He oversaw a long term 90 percent slide in the stock. He did that while getting paid. Not in Pesos. Real US dollars.

I was asked on CNBC one time (I raised a bit of a riff), what I thought of Citibank….I said… ‘Banking is a great business and Citibank is a shitty business.’

We went straight to commercial.

Banking is a great business. Take a look at $BOFI (Bank of the Internet) during the exact tenure of Pandit …up 450 plus percent. They too dealt with the crisis. Real banks are on fire…the ones that are doing the basic business of banking.

Great businesses keep it simple. The models that worked 100 years ago work today.

Banking works if you stick to the basics that existed from the beginning of time. It’s a simple math formula.

We should invest in innovation to get leverage and higher margins in the future (Wall Street continues to mock Silicon Valley so that should continue to work). The banks used innovation to leverage there balance sheets and build pyramids for themselves.

Nothing left to write about here until the guys are punished for their incompetence, and slowing down our country.

In the meantime $BOFI and many other small/regional banks continue to all-time highs today.

BTW…If you see Pandit on Linkedin Today…don’t endorse him!