-
-
Re: Citi news (Not good)
there is no way the government will allow Citi to fail and cause the problems that Bear did. I expect the FDIC to step in shortly.RanMan :cool: -
Re: Citi news (Not good)
Welcome to AmBank (Citi), AmInsure (AIG), AmMortgage (Fannie/Freddie), AmCar (GM, Ford and Chrysler) and people have the nerve to criticize the miniscule Amtrak?Comment
-
Re: Citi news (Not good)
Tell me if this disaster scenario sounds familiar....
CEO says "rumormongoring" and short-selling responsible for sharp price decline.
Mike Mayo issues support of stock at price double its current levels.
Dick Bove sees no reason for company to go bankrupt.
With that said, don't see Citi failing and if it does, gold will be worth so much, don't think most Itulipers will care.Comment
-
Re: Citi news (Not good)
How's the FDIC going to save Citi? They can organize some sort of forced merger [do you thing Pandit will do anything like that voluntarily?], or they can organize an orderly liquidation of the assets while protecting depositors, but the FDIC would not appear to have any way to save Citi intact.Originally posted by GeraldRiggs View PostComment
-
Re: Citi news (Not good)
JP Morgan and Citigroup to be nationalized by Q2 2009 (Rumor) Oct. 31, 2008Originally posted by GRG55 View PostEd.Comment
-
Re: Citi news (Not good)
Before this is over the list of financial sector companies that have not been nationalized will be much easier to remember and recite.Originally posted by FRED View Post
Nevertheless, even the inevitable nationalization of Citi is unlikely to keep it intact, and, further, I doubt very much the FDIC will be the primary regulator that oversees the newly nationalized banks. Any nationalization will be the perfect opportunity for the new Administration to be seen to be "doing something", and the opportunity to set up some sort of new "Super regulator" for the financial sector would seem too good to pass up.Comment
-
Re: Citi news (Not good)
Originally posted by GRG55 View PostDowney appears to be the third largest thrift to fail this year after WaMu and IndyMac.Community Bank of Loganville, Georgia, Shut by State Regulator
By Ari Levy
Nov. 22 (Bloomberg) -- Community Bank of Loganville, Georgia, was closed by a state regulator, the 20th U.S. bank seized this year as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression.
Bank of Essex in Tappahannock, Virginia, will take over all of the $611.4 million of deposits from Community Bank, the Federal Deposit Insurance Corp. said yesterday in an e-mailed statement...
U.S. Bancorp Acquires Downey Savings and PFF Bank
By Finbarr Flynn
Nov. 22 (Bloomberg) -- U.S. Bancorp has acquired the operations of Downey Savings & Loan Association, F.A. and PFF Bank & Trust from the Federal Deposit Insurance Corporation.
U.S. Bancorp’s main unit acquired assets and liabilities of the two California-based financial institutions, the Minneapolis- based lender said in a statement. The bank won’t buy assets or liabilities of their parent holding companies, it said in the statement.
Downey and PFF, respectively the 23rd and 38th largest U.S. thrifts, were closed by regulators yesterday, the Office of Thrift Supervision said in a statement...
...The FDIC said in a statement that it estimated the cost to the Deposit Insurance Fund for may total as much as $1.4 billion for Downey and $700 million for PFF Bank.
So how much longer before the FDIC runs out of banks into which to put these failed institutions? And money to cover the depositor losses? Anything to avoid those lineups on the sidewalk, eh.
Seems the strategy now is the create more "too big to fail" banks that then have to be formally nationalized by Treasury...
Comment
-
Comment
-
Re: Citi news (Not good)
There is some anecdotal evidence that JP Morgan acts as an arm of FED policy. Rob Kirby has done some reporting on this as referenced below. In effect, JP Morgan is already "nationalized", we just haven't seen the paperwork.
http://www.financialsense.com/Market...2008/0728.html
http://www.financialsense.com/Market...2007/0813.htmlComment
-
Re: Citi news (Not good)
Originally posted by GRG55 View Post
Good question,
Produce new banks.http://www.itulip.com/forums/showthr...62227#poststop
My question, where is capital source coming from if not TARP?Nov. 21 (Bloomberg) -- A U.S. bank regulator is prepared to offer private-equity firms and other investors a national bank charter
What PE firms and other investors?
PE capital source?
Comment
-
Re: Citi news (Not good)
CNBC in Europe is talking about a nationalization in the coming days!
Comment
-
Citi to make a "Bad Bank"
I thought they already were a bad bank:-
http://online.wsj.com/article/SB122747680752551447.html
MikeComment
-
Re: Citi news (Not good)
Oh, I see getting my posts moved.....the High Hand power lurks here...............!
Citi are TOAST!
http://news.bbc.co.uk/2/hi/business/7744814.stm
MikeComment
-
Re: Citi news (Not good)
Merged the Citi threads. We don't need one a day!Originally posted by Mega View PostEd.Comment
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
Join the discussion of today's events with a wide range of professionals with an interest in economics and finance. Register to join our 50,000 plus member registered community from 78 countries today.
Subscribe to iTulip Select for access to the longest running, deep, accurate, and unvarnished macro economic trends analysis and forecasting available, since 1998.
- If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.
Working...
Tweet
Comment