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Posted on 02/22/2009 5:41:43 PM PST by jimbo123
Citigroup Inc. is in talks with federal officials for the U.S. government to expand its ownership of the bank, according to a report in the online edition of the Wall Street Journal, citing people familiar with the situation. The report said that while the talks could still fall apart, discussions center on the government ending up with as much as 40% of Citigroup's common stock.
(Excerpt) Read more at marketwatch.com ...
Don’t tax you, don’t tax me - tax the RICH man behind the tree.
And “rich” means if you breath the air.
They are doing everything they can to get us into a Depression.
I agree with you...down 500 minimum.
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That much? Holy crap.
My mother works in the financial industry. When I called her to give her a heads up tonight about Citi, her exact words were “Oh, my God, it’s gonna drop at least 500 points, that’s it, I’m getting us out.”
We were already discussing that Monday was going to be a terrible day BEFORE the Citi news.
Look, you never know, and predictions are like assh*les, but IMHO, the market is at the highest we’re going to see it for a long time.
How low do you think it’s going to go by Oct.?
I still have a checking and savings account with Citi, though I moved (for all intents and purposes) to a credit union back in September.
No worries, though; this gives me more reason to close the accounts out before the end of the month.
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And for those of us chumps who dutifully pay our monthly bills, including Citi, we're watching all of this in disbelief. Disbelief that we renters are getting shafted to help out the ones who not only don't pay their bills but get to keep the homes they never should have qualified for in the first place. I wish I could see the point in continuing to pay any of our Citi debts at this point. Nationalization or not.
All I know is that we’re looking at crappy now, going lower, and we haven’t even seen the effect of cap-and-trade or card check yet. We’re royally screwed whatever the numbers end up being.
sw
Maybe it’s not gonna be tomorrow, but there are at least 3 potential bombs dropping this week...we had pretty much decided that we were done riding this out anyway, but IMHO, there’s gonna be a mass exodus.
I don’t get a charge out of being right on a prediction like that. I’d much rather be wrong and have Zero announce that he’s been studying Milton Friedman and is changing his ways tomorrow. Unfortunately, I think that’s unlikely.
Asia Stocks Rise, Erasing Earlier Declines, on Citigroup Report
http://www.bloomberg.com/apps/news?pid=20601087&sid=auE35pAayCxs&refer=home
Feb. 23 (Bloomberg) — Asian stocks rose, led by technology and finance companies, on speculation the U.S. government will raise its stake in Citigroup Inc. to ease the global financial crisis and revive economic growth..........
I think I’m getting ready myself to totally get out of the market, I’ve waited too long. If we rally off of this, it would be a good time....
japan is already down.
monday is going to be a mess.
when are the drive bys of the dinosaur left going to admit its obama’s fault?
We'll have some days of up ticks, but the DOW isn't going to recover for years.
We're trying to time getting out of this mess. But we did miss our best window of opportunity.
sw
>>card check<< What’s that?
Forced open ballot voting for unionization. It will further cripple an already ailing manufacturing base in this country, plunging us even farther into the abyss.
Probably up because Asian investors are covered by the US taxpayer.
china own 25% of Citigroup Inc .
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