Master o’ the markets Charlie Gasparino just had a little debate with CNBC’s Steve Liesman re: Citi. According to Chaz, Citi will not fail, and there are a couple of ways we can get this bitch back up:
1. Vikram Pandit steps down, “stock goes to $7.”
2. “If your friend Bob Rubin would stop talking to Obama and get working with Pandit, stock goes to $7.”
Now, as you know, we could never hope to compete with the capacious intellect and market moving insight that Chaz brings to the table. But the situation is dire and we have got to make this thing work. Consider this your suggestion box for what Citi can do to pump itself back up. While it would be sacrilegious of us to attempt to climb on the shoulders of a giant, please realize that we approach this subject with the greatest humility, and self-awareness that we could never come close to CG’s level of magisterial thought leadership, and that we’re doing this for Citi. To that end, the first suggestion off the top of our heads is this: Vikram steps down, Gasparino steps up. Now you go.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
7 RUPEES, maybe…
Love the irony how Charlie G is moving markets its insane. Now I definitely want GE to go under and take CNBC with it.
Charles = I’m In Charge
I bet Gasparino has a really small dog that he yells at every morning and evening.
why doesnt HSBC buy C? seems like a good fit
So much spittle was gathering on his lower lip during that rant – it was epic.
“Have a good weekend Charlie!”
Gasparino in a size 5 hat would be a good fit.
@6 he probably smears peanut butter on his crotch at night and lets the dog go to work
CORRECTION CITI CANNOT FAIL, WILL NOT FAIL. WILL NOT FALL.
IF IT DID WE ALL WORK FOR WALMART NEXT FRIDAY. THATS BECAUSE TARGET ISN’T GONNA LAST MUCH LONGER.
Whenever I see Vikram Pandit, I can’t help but think that he’s just a bigger version of that “Damn It Feels Good to Be a Banker” guy.
Speaking of target, anyone else think Ackman is a kid toucher? Dude creeps me out.
What have you got?
Speaking of target, anyone else think Ackman is a kid toucher? Dude creeps me out.
Article from 1999: “Robert Rubin, the man Wall Street trusts”
http://news.bbc.co.uk/2/hi/business/342086.stm
@12 Ackman does exude the essence of a kid touch. Something just not right about that guy.
If yourself & Ackman were locked in an office together and the guy came up and touched you on the shoulder what would you do?
caption, “I shouldn’t have had that second corndog…”
C will sell deposits to GS this weekend to shore up capital. Book it fuckos
Here’s what I think. Gasparino thinks that Citi has to sell Smith Barney to survive (ostensibly to JPM).
This situation would be comparable to LEH having to sell Neuberger. What Gasparino isn’t thinking about, is that the situation for Citi is quite different given its access to Fed cash.
Citi’s management is mediocre, not as bad as the street thinks, but the street has spoken and that’s all that matters.
-Jobless Dealbreaker
We need Pics of the Gasbag in his slippers & robe NOW!!!!
Don’t look now, but BAC about to go single-digit on us…funny none of the talking heads have really focused this at all. BAC, and by default, MER going down would be much bigger than C…
Does Pandit have an account on Craig’s List ?
I love Charlie!
@19
Sounds plausible, but the most important question is, who will get the toasters, Citi or the new GS depositors?
@20 you are dead on
@22
BAC goes to single digits so will JPM. Wells Fargo will shortly follow. This is an assault on the global financial system.
I think Chaz and Vikkie are secret butt lovers
My guess is that the situation is fluid
Id kick ackman in the place where his balls should be, only to find out he’s got a hatchet wound. He’d then give me that creepy smile of his. I’d scream but I imagine his office is sound proof for such occasions.
@29
Good luck with Paulson. I think he’s on strike.
If anyone can save Citi, The Economy, The World and all of Mankind as we know it, it’s Charles Gasabg. And to think, we all have been underestimating his incredible talent. Charles for Treasury Secretary!
Good bye to the US Economy if C goes. There isn’t a corner of this country that Citi doesn’t have its tentacles buried in. People rooting for it to fail have no idea the magnitude of what they are wishing for. It’s almost as if we’re having a parade to usher in the Armageddon with all the cheerleading.
Good bye to the US Economy if C goes. There isn’t a corner of this country that Citi doesn’t have its tentacles buried in. People rooting for it to fail have no idea the magnitude of what they are wishing for. It’s almost as if we’re having a parade to usher in the Armageddon with all the cheerleading.
@ 29- it’s cute that you think anyone is listening to “Heck of a job Paulie” anymore.
He has flip flopped and zig zagged so many times on so many critical issues- LEH bailout, TARP purpose, soundness of the economy, GS role in AIG bailout, AIG bailout itself- that no one will listen to what he has to say. And in any case he’s outta here in 60 days so what recourse is there against him for lying yet again?
America has learned the hard damn way that nothing coming out of the Bush Administration can be trusted. It would be nice to have some credibility with the American people right now, but they don’t. That is just the reality of the situation.
Why isn’t Citi considering going private?
Wideclops make the best accountants. They can keep one eye on assets and the other on liabilities.
O walks on water. O is the Messiah. O will save us. Fear not commond people. The O is the Chosen One.
Chill out Brozsephine, Citi isn’t going down. The gov’t will just pull an AIG.
Why doesnt ackman bundle all Citi’s retail banks into one of his REITs? He could go back on squawk and give me the willies all over again.
Why isn’t Citi considering going pirate?
O walks on water. O is the Messiah. O will save us. Fear not commond people. The O is the Chosen One.
Never mind Gasbag, how about Michelle’s cans?
I’ve got a plan, they can find someone who just left another firm who started up a hedge fund, pay $800 million to buy the hedge fund and bring their talented management aboard to right the ship. Oh wait, nevermind.
You guys have always been against citi. Simply by the fact that many here refer to it as “shitty bank”. I think Pandit is thumbing his nose at WS. I don’t want him to step down or break up the company. Citi is the same as Jamie’s little “gem”, no difference, they all have problems. It’s just that you guys are pro chase and anti citi. Pandit should stay at the helm and pull it out despite WS and their BS.
what does he mean rubin come back? rubin hired pandit to be the ethnic fall guy. dude can peace out to the 3rd world with his old lane blood money and never be heard from again, why do you think he wears those big shades and is undergoing radical weight loss now?
@ 29- it’s cute that you think anyone is listening to “Heck of a job Paulie” anymore.
He has flip flopped and zig zagged so many times on so many critical issues- LEH bailout, TARP purpose, soundness of the economy, GS role in AIG bailout, AIG bailout itself- that no one will listen to what he has to say. And in any case he’s outta here in 60 days so what recourse is there against him for lying yet again?
America has learned the hard damn way that nothing coming out of the Bush Administration can be trusted. It would be nice to have some credibility with the American people right now, but they don’t. That is just the reality of the situation.
#44, have you seen drudge? Seems the “O” is considering bankruptcy for the automakers. And gee, didn’t the unions give him all those contributions?
rich santelli: “And all the rumors, there was a rumor that GS was going to get together with Citi and then they would be Sachs in the Citi”
They are definitely losing it, the girls laughed nervously.
do you think Toyota would lend Citi money at 0%?
Citi and Suntrust, a too big to fail win-win and a good counter balance to BofaMerill.
“I aint gonna play sun citi”
-Little Steven (van Zandt)
-C
Does anyone have 1st year wideclops numbers?
damn… was just “Considered and Declined” for Wideclops Ventures
@55,
1st ye ar 100K
2nd ye ar 125K
3rd ye ar 150K
#49, there is no conservative columnist at the times, only one who says they are but has no connection to conservatism whatsoever. A McCain type of republican, really a dem.
Why is he putting so many clinton era war hawks in his cabinet? Why the attorney general? His change looks a lot like “same old, same old” and that is why the market is in the shape its in.
It is true that Citi can’t fail in the way that Lehman failed.
But it is certainly plausible that they fail in the way AIG did…
@47 -
Quit your whining you little weasel – every firm gets a nickname here, and V is a lame, little dipshit.
Citi the same as Jpmc ? Ya, they’re exactly the same, only different…
let me try this again for the right effect
1st ye___________________________ar 100K
2nd ye___________________________ar 125K
3rd ye___________________________ar 150K
What if Phat Sandy Weill had not whacked Jamie? Let’s assume for a minute that Sandy retired and gave the CEO to Dimon. Would he have been able to fix Citi or would he have gotten fired like Prince. Prince as in Chuck, not the Sandy Arabians that keep giving C petro dollars.
“Your all fucked up. You talk like a fag, and you’re shit’s all retarded. But look up scro, lots of tards are living kickass lives. My sister is a tard, and shes a pilot.”
>David Brooks today, the CONSERVATIVE columnist at the NY Times
Actually I think you’re supposed to put CONSERVATIVE in scare quotes when referring to Brooks.
You have to love that “Wideclops” has had 390 hits on google. 176 of them from people at CNBC.
Merge with GM, so that the latter could gain access to the TARP. Synergies would allow them to lose taxpayer dollars even more quickly.
If they broke Citi up would Jamie be able to buy anything?
@49. Are you actually serious in referring to David Brooks as a Conservative? He is a NY Times Conservative, which is like being the smartest kid in a special ed class. Not a big accomplishment.
62 i thought you meant Prince as in Artist formerly known as…
Chaz gets his buddies at the bucket shop to sell Citi like they sold Wobistics, the stock goes to $7.
I’ll bite. 61 was ridiculously funny.
@48 I didn’t vote against O. Why do you think I am being cynical or demeaning to O? Trust me, there is nothing to “get over.” The media has pumped O to be the second coming of Lincoln, from the land of Lincoln, and nothing short of at Gettysburg Address or parting the red sea will save him.
For whatever reason, the media elites consider him a miracle worker because he ran a successful campaign against a very polarizing Senator from New York and a very liberal Republican during the worst economy in 70 years. Maybe you need to get a grip? #58 has it correct-David Brooks is no conservative. There are very few “conservatives” left. Maybe Pat Buchanan.
More of the McCain/Dole types who love power and are willing to sacrafice principles to get it? Or falling on the sword and being a good soldier?
I don’t know. I am playing along…
61…well done sir!
so Paulson announces no tarp for MBA’s and Citi goes into the toilet, strts talking about a sale or merger – not suspicious at all.
Citi is being whacked by the mafia banking syndicate run by GS and JPM:
http://yourmortgageoryourlife.wordpress.com/2008/10/06/did-jpmorgan-almost-fail-jekyll-island-investment-still-paying-dividend/
They did it to Bear Stearns and Lehman – Citi and B of a are on the hit list now.
Citi employee in need of a laugh…what is a Wideclop?
@75…get a life. I hope wideclops tosses you into the East River…
The FT chick Saskia Scholtes on CNBC is a winsome lass …
Maybe Citi should just get some rest for once. This whole never sleeping thing is really getting to them.
Anyone else not care about impeding doom when we get to stare at Michelle Caruso Cabrera’s cans?
I’m with #78 & 81. Simply awesome.
Is Cabrera the one in the red?
She has dicksucker’s cramp.
im gunna finish on urrrrrrrrrRRR face GASSY G man
I’m with #78 & 81. Simply awesome.
@81
That chick is soooo not hot. Not even as a last resort.
Links to some good MCC images, please.
@81
Can you or somebody post a link to her cans?
“so Paulson announces no tarp for MBA’s and Citi goes into the toilet, strts talking about a sale or merger – not suspicious at all.
Citi is being whacked by the mafia banking syndicate run by GS and JPM:
http://yourmortgageoryourlife.wordpress.com/2008/10/06/did-jpmorgan-almost-fail-jekyll-island-investment-still-paying-dividend/
They did it to Bear Stearns and Lehman – Citi and B of a are on the hit list now.”
Ditto, so true. People like to pretend that the markets operate in a fair and just manner. Paulson is on holiday somewhere while all the financials get bear raided.
Has anyone checked in on Sandy Dubs? He must be tremoring right now.
Well now, let’s really get depressing. CNBc interviewing fellow who wrote a book on how to survive this next great “d”. Harry, says that this is not the bottom, bottom that we are in for a real surprise next year. A worser bottom. Guy says go to cash and commodities. Not so happy with treasuries.
@87 Saskia is a wideclops. But that gap in her teeth is sooooo hot. Wonder if she wears fuckmeboots???
@87 Saskia is a wideclops. But that gap in her teeth is sooooo hot. Wonder if she wears fuckmeboots???
@87 Saskia is a wideclops. But that gap in her teeth is sooooo hot. Wonder if she wears fuckmeboots???
@87 Saskia is a wideclops. Wonder if she wears fuckmeboots???
@87 Saskia is a wideclops. Wonder if she wears fuckmeboots???
@62- Downfall started when Prince became CEO- a damn attorney. And he brought in Kaden and all those other legalese top-heavy, non-cap mkts types. Even Crittenden: Amex, Monsanto & Sears, he’s a retail hack. Mind you, Dimon knows his stuff but was never a trader/structurer, also went the CFO route.
http://i214.photobucket.com/albums/cc181/anchorbabes/apr2008/michelle1-5.jpg
@62- Downfall started when Prince became CEO- a damn attorney. And he brought in Kaden and all those other legalese top-heavy, non-cap mkts types. Even Crittenden: Amex, Monsanto & Sears, he’s a retail hack. Mind you, Dimon knows his stuff but was never a trader/structurer, also went the CFO route.
@ 99
Thank you!!
Looks like Wells Fargo is slimming down in order to pick up Citi in a buyout or merger:
http://ml-implode.com/staticnews/2008-11-21_PremiumAlertWellsFargoClosingOperationsAcrossTheNation.html
Close their shops and use Citi’s.
Hmmm, interesting.
@102-
Suuuuuuuuurrrrrrrrree
So did you forget about Wachovia??????
@102
Suuuuurrrrreee
So did you forget about Wachovia???
@103/104
It’s just speculation and conjecture – seeing if anyone else has something to add to it – Faux Biz is tossing around a Citi union with either Wells,US Bank or Morgan Stanley.
Jamie Dimon will probably just swoop in and take it all anyway.
http://yourmortgageoryourlife.wordpress.com/2008/10/06/did-jpmorgan-almost-fail-jekyll-island-investment-still-paying-dividend/
Goldman and their “$200 a barrel” oil call is killing them, they don’t have the cash they did two months ago – so they are out unless Paulson throws billions at them.
If the Gov gives Citi another $25BB they will own it outright anaway.
Lots of balls in the air folks!
I am 99, and let me say Michelle is overrated
Trish Regan is the truth. Undervalued as hell, I’d go long on her through thick and thin ready to provide a liquidity injection at all times
#106 – Met Trish Regan a few months ago…even foxier in person.
I think TR is the best. Why is it that she hasn’t been promoted, ie Erin Burnett style?
Question:
How long before B of A walks away from the Merrill Deal?? Merrill clearly is not worthanything right now, why buy them??
I think they should hire Denny Crane to run the company. He’s that great laywer dude from Boston Legal. He’d kick some ass over there. I love that guy. I admit it, I want to be Denny Crane. He rocks and since I went long on about 10/14 I think I would rather be a laywer for awhile.
I think they should hire Denny Crane to run the company. He’s that great laywer dude from Boston Legal. He’d kick some ass over there. I love that guy. I admit it, I want to be Denny Crane. He rocks and since I went long on about 10/14 I think I would rather be a laywer for awhile.
@109 politics || mafia
@112, 109 — It’s pending a shareholder vote isn’t it? So if shareholders have any brains, maybe they’ll vote it down.
@107 you are a lucky bastard
I just saw Leonardo DiCaprio amongst the Bloombergs at 390.
Pandit turned own GS merger 7 weeks ago
@17 too long, didn’t read.
- that guy from Goldman Sachs
If RIP, 2 comments;
Never liked the Citibank building. I thought the Slanted tower was out of place at the time.
Always respected Citibank’s pioneering ATM network in New York.
MZ
The crank hankin, curry eatin’, Vickie has done it again. His hedge fund fails and he becomes CEO of happy Citi. Citi is driven into the ground, and Vickie and Rubey end up in a white house position. Goldman takes bank over weekend sans Smith Barney…
Just another CFR neo-liberal spook:
Geithner was born in Brooklyn, New York City, to Mr. and Mrs. Peter F. Geithner of Larchmont, New York. He completed high school at International School Bangkok, Thailand, and then attended Dartmouth College, graduating with a B.A. in government and Asian studies in 1983. After, he obtained an M.A. in International Economics and East Asian Studies from Johns Hopkins University’s School of Advanced International Studies in 1985. He has studied Japanese and Chinese and has lived in East Africa, India, Thailand, China, and Japan.
After completing his studies, Geithner worked for Kissinger and Associates in Washington, DC, for three years and then joined the International Affairs division of the US Treasury Department in 1988. In 1999 he was promoted to Under Secretary of the Treasury for International Affairs and served under Treasury Secretaries Robert Rubin and Lawrence Summers.
In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He then worked for the International Monetary Fund as the director of the Policy Development and Review Department until moving to the Fed in October 2003. In 2006 he became a member of the influential Washington-based financial advisory body, the Group of Thirty. On November 21, 2008, it was reported that President-elect Barack Obama had decided to nominate Geithner for the position of Treasury Secretary. Get the picture.
It’s the New World Order – to go
http://yourmortgageoryourlife.wordpress.com/2008/10/10/are-these-the-forging-fires-of-the-nwo-we-feel/
Will Citi make it through the weekend?
It’s like ‘Things to do Denver when you’re dead’
When you gotta go, you just gotta go…
Citi is going under, without question. JP Morgan will likely follow. Even the CEO’s don’t understand what those CDO’s and other derivatives are doing. It is too complex. Probably only one in a million really understand. My teacher in Financial Mathematics was writing papers on how to use complicated modles complete with multivariate distributions to model these things. The truth is, noone can model them. The assumptions were way out of wack. Its time to load up on ultrashort financial ETFs like FAZ and SKF to make alot of money off of the downfall of these banks. Dow 3000, here we come.
If Pandit had any brains he would immediately dump Smith Barney, take the proceeds and short all of Citi’s own stock.
FWEOtS I really enjoy the blog. Keep writing.
Enjoyed every bit of your article. Really Great.
wow, awesome blog.Thanks Again. Great.
At last! Someone with the insight to solve the pobrlem!