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So much bigger and potentially troublesome than WaMu. The latter being like a bad flu and the former more akin to a virus: a deadly one.
no, the wsj says c’s too big to fail.
$2 trillion.
worldwide recession becomes hysterical.
wsj expects gov’t deal.
si.
I also heard the Somali pirates were in discussions to make an investment in Citigroup
Yeah, talking to federal officials has shown to be a proved crisis avoider.... /s
I hear Chapter 11 calling Citi’s name.
Tin Foil Hat?
Maybe.
But after Citi aquired and stopped the collapse of Wacovia , yet a few days later Paulson Goldman Sachs gave Wachovia to Wells Fargo, it was apparent that Citi was not sufficiently connected to them.
Here comes even more bailouts. just takes one and they all show up. Still would have been cheaper to take the first bailout cut it half and divide among American citizens only. these clowns either need to go chapter 7 or chapter 11 and stop the begging. I don’t think any of the usa is so against bankrupt companies anymore, we have been desenstized to it. While bankruptcy is something we accept even if begrudingly, I don’t know one person even among Democrats I know who believes in the these bailouts. And Congress has no business assessing bankruptcy plans or trying to do a bankruptcy without calling it that. They don’t know what they are doing by playing bankruptcy judge either. I don’t know one American who trusts them anymore with these bailouts.
The next time I get a phone call from Citibank wanting to know why my payment is a day late I am going to tell them that my account was paid in full they day the government used my tax $$ to bail out their sorry asses...
Citi holds the mortgage on my house. If it goes down do I get to stop paying?
If Citi tanks it’s gonna be bad. Two TRILLION Dollars. They already got 25 billion form us to sustain them and it wasn’t near enough. They are falling fast.
Good thing Obomus has such a lengthy resume and is well prepared to handle these types of crisis from day one.
Obama is gonna ask for a recount himself soon if this keep us.
I got the lowdown from a few brokers. Citibank has had buy offers for two weeks and turned them down FLAT!
I wish the truth was being reported.
"EVERYTHING IS BROKEN"
Last year I told my mom to sell her citicorp stock. She said no, they give good dividends. I told here if the stock’s at zero, you’re not getting any dividends. Sadly, things have played out in a worst case senario sort of way. I say let Citicorp fail. Enough of the bailout nonsense already. I’ll find a way to take care of my mom, the citicorp shareholders that alowed morons to run it had better not start complaining about anything. The reaped what they sowed.
....just curious, wonder if Pandit remembered to call Chris Cox and ask him how many of the naked shorts had ‘delivered’! Looks like another bear raid will succeed while the SEC whistles past the graveyard. Watch on Jan 20 as Obama ‘solves’ the problem by simply reinstating ‘failure to deliver’ penalties at the SEC!
The problem is that we’ve entered deflation and the totality of their loan portfolio is about to go into decline, meaning they’re undercollaterallized on every debt note they hold. All asset values are going to decline in this environment.
It’s the size of their loan portfolio, on sheet and off, that is tanking them first.
I dont think they can really be saved. The Gub already has them on complete life support, via the FED covering all their withdrawels for them in the form of auction facilities, but there reaches a point where the only money in the bank is the Gub’s because they’ve got no depositors left. There’s also a point where the Plunge Protection Team at Treasury owns all the stock. The price suggests we might be closer there than a lot of people think.
I think we’re entering the ‘try to mask a run’ phase, IMO.
