What a list! $25 Billion for WFC??? I thought they were supposed to be in the best shape of all.
http://www.msnbc.msn.com/id/28316652/
It is downright frightening to go down that list and see many many banks you’ve never heard of getting $100 Million++ of our tax payer dollars.
This can only mean that people like Roubini and Jim Rogers [...]
- the $50B Madoff scam. Story broke on the same day as the auto bailout failure in senate. Markets down 300+ pts in pre-open, but miraculously rescued by announcement of White House action. This is a MAJOR story that has big consequences. How many hedge fund investors are now nervous and liquidating positions in order [...]
In terms of the magnitude of money lost and the interconnectedness of the international banking system, this crisis dwarfs both that of 1929 and the 1989 Japanese crisis. To think that’s it’s over after one short year is ludicrous. People who think we’ve turned some corner on this are simply delusional. There are lots of [...]
(MarketWatch) — Citigroup Inc. plans to expand and hire 1,000 more workers in the Philippines next year despite the thousands of jobs it plans to cut overseas, the Manila Standard Today newspaper reported Monday.
“We’re investing in systems and processes, and next year we will have another 1,000 (workers),” Citigroup’s country business manager Mark Jones was [...]
(On the bright side, if the government hadn’t pumped in the money, it would now be worth zero). The company’s tangible book to equity ratio is now more than 50-to-1, and the firm’s gigantic mountain of consumer debt “assets” will almost certainly face enough writedowns in the next several quarters to wipe out the equity [...]
The previous joke about citi bank: Citi credit card bills and a dead lady
Citi-Girlie :
“Hi, I am walking in the street at night barely dressed, I want to
sell myself but I insist that it is not for money since I have a lot
of it”
Attracted Car driver :
“What is the point to offer me your [...]
The Govt. cannot possibly bail everyone out. Even if they could where is the revenue going to come from? Who is buying cars? Who is buying houses? Job losses are mounting, not going down. Anyone who is expecting some capitulation event and then a massive rally that covers all the losses is dreaming.
As bad as [...]
US markets will very likely open lower with a full gap down. Due to enourmous selling pressure experienced friday, which will probably continue today, I think that we will drop lower even in the first minutes of trading.
Now there are three scenarios:
A. Markets start to recover a little after the initial drop, until [...]
Previous post: LAYOFF LIST GROWS EVEN MORE FROM YESTERDAY (DAILY UPDATES) 2
Citigroup has begun big layoffs and is expected to cut at least 10,000 jobs around the globe, a published report said Friday.
Citi’s global staff stands at about 352,000 now, and the firm has a target to trim that to about 290,000 by next year, [...]
I would strongly agree that Mr. Buffet is the most intellegent stock-investor in the US history; however, I have to say that not many of us, common investors, could really “copy & paste”
his strategy.
(my) Reasons by some challenging questions:
1. Could one still hold your shares for 1-2 years, even if its price
drops 50% [...]
BOSTON (MarketWatch) — Investors were set to focus on banking stocks again after Citigroup Inc. and Merrill Lynch & Co. reported more quarterly losses Thursday, one day after the financial sector saw a double-digit percentage decline.
Markets have had plenty of earnings reports to comb through this week, and investors are trying to decide whether more [...]
NEW YORK (AP) — Citigroup Inc. suffered its fourth straight quarterly loss due to credit-related missteps and cut another 11,000 jobs.
The New York-based bank said Thursday that it lost $2.8 billion, or 60 cents per share, in the third quarter, compared with a profit of $2.2 billion, or 44 cents per share, a year ago. [...]
By John Letzing
SAN FRANCISCO (MarketWatch) — A Citigroup analyst late Monday issued a dour outlook for the U.S. economy, writing in a note to clients that the recent crisis has “broken the bounds of any previous, merely cyclical event.” Citigroup analyst Steven Wieting wrote that tightening financial conditions and weakening economic activity are expected to [...]
If I were Warren Buffet, and former Goldman Sachs top gun Hank Paulson were the Secretary of the Treasury, and if Paulson had submitted a plan to make himself the Dictator of the United States, I would probably buy Goldman Shares too.
But, let’s ask ourselves a question here. How does Buffet invest? He likes [...]
Report: Libor may have been affected by low-balling dollar calculation
By Riley McDermid, MarketWatch
Last Update: 9:36 AM ET May 29, 2008
NEW YORK (MarketWatch) - Banking giants including Citigroup Inc., J.P. Morgan
Chase & Co. and UBS AG are contributing to erratic behavior in a major global
lending benchmark, The Wall Street Journal reported Thursday.
Citi (C), J.P. Morgan (JPM) [...]
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