Posted on 11/21/2008 6:39:32 PM PST by rabscuttle385
With the sharp stock-market decline for Citigroup rapidly becoming a full-blown crisis of confidence, the companys executives on Friday entered into talks with federal officials about how to stabilize the struggling financial giant.
In a series of tense meetings and telephone calls, the executives and officials weighed several options, including whether to replace Citigroups leadership or sell all or part of the company. Other options discussed included a public endorsement from the government or a new financial lifeline, people involved in the talks said.
The course of action, however, remained uncertain on Friday night, these people said, and other options may yet emerge.
But after a year of gaping losses and an accelerating decline in its stock price, Citigroup, which has $2 trillion in assets and operations in scores of countries, is running out of time, analysts said.
(Excerpt) Read more at nytimes.com ...
Chevron actually acquired Texaco in 2001, so you might switch to ExxonMobil or one of the other conglomerates.
So much for Shitie bank
WOW!
Do I ever agree with you! Please start the “teaching” thread here on FR. There are so many who have no idea of what to do in this weird economy!
And, unfortunately, many of them are our adult children. Mine are in shock, and have lived all their young adult lives in the recent “up” times. It is dawning on them that something is changing, but they are so stunned, they do not know what to say or do.
Does Citi have access to the TARP? If so, why the trouble?
It's not just for us - truly, it's for the Republic!
As for your adult children, you're not alone. That which we refer to as Stern Reality is a hard, harsh teacher, and the School of Hard Knocks extracts an expensive tuition. The lessons are painful, and are often slow to develop to the degree where the actual learning has upside.
Face it - we've all been there, in one form or another, at one time or another.
This, in itself, is rationale for development of a "teaching thread". Is there demand out there for going ahead with this project?
CA....
The Somali pirated haven’t yet considered investing in Citigroup, but they may wish to consider donning suits and ties and seeking funds through the government bailout.
I just bypass their game. I use online bill-pay at my bank. I have it rigged to send a hundred per month automatically at what I estimate is the start of the billing period (thus always being sure of making my minimum). I also check online at the credit card's site what my balance is once the cycle ends, and schedule a second online payment. I don't bother waiting for the bill in the mail.
This way, I have a record of exactly when they got their money, and I never get a late charge.
Citi owns Smith Barney. S.B. has been using loads of cash to lure brokers from the likes of say Morgan Stanley. MILLIONS.
This is our money.
It is not creating new wealth, Just shifting the deck chairs on the Titanic
We are getting screwed. Big time. An don't think politicians don't know it
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