Cracks are emerging in the fabric of the Citi deal. First off, there has been no let-up at all in the number of Pizza deliveries per hour (a critical deal closing metric, of course: deal closure probability rises as pizza delivery rate falls) amid rumors that the largest... sovereign... wealth... fund... ev-AH... is losing interest in Citi. But, savvy as they are, could the government just be playing hardball, stretching out the brinkmanship by taking advantage of the Japanese trading holiday.
The Nikkei is, obviously, unchanged, owing to that holiday, with Australia showing early volatility, but currently trading flat.
Since there is very little entertainment to be had watching that slow moving train wreck, we will be watching S&P 500 index futures when Obama announces his financial EMT squad tonight. At present they are trading around 798, with Dow futures pressing 8069 upward. A thin and dangerous day likely.
Posted by guest , Nov 23, 2008 7:41PM
Looks like everyone has given up. Earlier it used to be a rush to meet the 6:30 (now 5:30) Japanese market open.
Now - nothing. This weekend bailout drama has gotten boring. They need to shift to wednesday noon or something.
Posted by guest , Nov 23, 2008 7:45PM
Market heading up. Read post and blog below. Legit. Been following it.
"
The blog below predicts bottoms and tops with practically a certainty. It is a money machine!
Its two latest calls are Bottom on November 20 for those who can buy at market close ONLY, and Bottom on Novemver 21 during PM session for those who can buy during trading session.
Details below. Get there immediately if you like to win, and do not like to lose.
http://financialtraders.blogspot.com/2008/11/stock-market-bottom-november-2008.html
Posted by mrpink , Nov 23, 2008 7:48PM
I wonder if they're just all waiting until 10PM so they can use black cars to all get home on the company dime. New policy.
-mrp
Posted by guest , Nov 23, 2008 7:48PM
@ 2 Die, again.
Posted by guest , Nov 23, 2008 7:49PM
DickRam Bandit
Posted by ep , Nov 23, 2008 7:57PM
Pink: I bet that's it.
Also, you never send me flowers anymore. What gives?
Posted by mrpink , Nov 23, 2008 7:58PM
@5, I'm throwing out all of my porn after having that visualization of an elf engaging in... ick..
-mrp
Posted by mrpink , Nov 23, 2008 8:02PM
ep-
Company Policy, got cut back :-(
-mrp
Posted by guest , Nov 23, 2008 8:03PM
Don't hate the khiladi bitches, hate the khel.
-Vik
Posted by guest , Nov 23, 2008 8:04PM
if the gov't cares abt American finance, shut down CNBC. EVerytime they set cameras up outside of a bank on the wknd (often after speaking abt the bank going down all week) something bad usually happens to that bank.
it was funny to see a phone in front of Gaspirino with a phone in front of him as the CNBC special starts.
Peace B1tches,
Tanned Banker
Posted by guest , Nov 23, 2008 8:05PM
hey citi, did you hear? the pink slips are the same shade of pink as your wife's pussy.... i compared today while you were showing face time at the office.
damn she's tight.... or was...
Posted by guest , Nov 23, 2008 8:06PM
will the mets new ballpark now be renamed from citi field to bad bank ballpark???
Posted by guest , Nov 23, 2008 8:06PM
at 10, don't you think the causal relationship in your bitch-fest is reversed?
Posted by guest , Nov 23, 2008 8:11PM
Well the FX market is giving back the gap and the dollar bulls are creeping back in...
When does the Messiah announce his "Dream Team" ?
Posted by guest , Nov 23, 2008 8:22PM
Hello. I pirate captain. How I invest in citi banking unit?
Posted by guest , Nov 23, 2008 8:23PM
stop constructing sentences like slanty eyed asian shit
Posted by Seaman Bodine , Nov 23, 2008 8:25PM
If the gov't wants to fix this shit, it's pretty easy.
About 7:00 tomorrow AM, they issue a statement saying they checked out the Citi stuff, and looks all cool and the gang.
Then, via some dopey aaa-rab fund, start buying C shares at the open - we'll call it an SMA sovereign wealth fund; Dubai's running it on behalf of DC. Lots and lots of C shares bought up.
Soon, all the other bank stocks will rally too, figuring if the gov't didnt' have to do anything to bail out C, then all the other fuckheads are good to go. The SMA account will by calls on all the shit.
Then, by 3:00 or so, dump out of all of it, take the gains, and pay for the bailout itself. Sweetness.
Posted by guest , Nov 23, 2008 8:28PM
Got an e-mail from Citi
Unlimited FDIC Insurance Coverage on your Citibank Checking Account
Posted by Goldman Sachs Neophyte , Nov 23, 2008 8:28PM
Gasparino is taking a call on air. Upcoming news: the situation is still fluid.
- that guy from Goldman Sachs (a.k.a.: TGFGS)
Posted by guest , Nov 23, 2008 8:28PM
@ 13, sure they get there on the wknds after the bank is belly up. But the non stop coverage this week sure did push them over the edge. Same story w/ BSC, LEH and WB. The banks fucked themselves, then CNBC put the nail in.
Tanned Banker
Posted by guest , Nov 23, 2008 8:30PM
Situation is as fluid as what I spilled on my lap watching Caruso-Cabrera
-MoneygripWisdom
Posted by guest , Nov 23, 2008 8:33PM
tanned... i'm ok with that logic. youre probably right.
the banks shouldn't have gotten themselves up shit creek in the first place.
hope you don't work at citi... if so, then i guess your tan will only improve
Posted by guest , Nov 23, 2008 8:34PM
@2--You and StockProfessor and others: Please stop flogging your blogs. Y'all call more bottoms than Barney Frank.
Posted by guest , Nov 23, 2008 8:37PM
scored an 87%... http://www.americancivicliteracy.org/resources/quiz.aspx
Posted by guest , Nov 23, 2008 8:46PM
Folks at CNBC: Please note Japan is closed.
Posted by guest , Nov 23, 2008 8:52PM
"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
--Thomas Jefferson
Posted by Investorcluzo , Nov 23, 2008 8:54PM
@mrp - too funny
when does "reporting" turn into "rumor-mongering"? given no-sleeve's desperate attempt to scoop his reporting peers, he throws out irresponsible "tips" only to say that "the talks are fluid" and the gov't is "balking". c'mon man. no wonder main street continues to make runs on the banks...
the current cnbc "special" is a clusterfk! a bunch of charlatans yelling on top of each other. even kindergarten kids will give each other a chance to speak.
Posted by merkin capital partners , Nov 23, 2008 8:56PM
(8%) next quarter? That jeri curl soaked into his brain...enjoyed the 6-box though.
Posted by guest , Nov 23, 2008 8:59PM
Tried to watch Gasparino's new "pilot" tonight. Director keeps hitting the "swoosh" button too much, like sitting at the side of the freeway watching cars go by, very annoying
Charlie, this ain't no show, though nice touch adding the guests resumes, just so we really know that they are experts. Pity they have nothing really to discuss, since nothin' happening. Feel sorry for the chick stuck outside Citi with no hat in the freezing cold. Nice try, but no cigar dude.
Posted by guest , Nov 23, 2008 9:02PM
does anyone actually copy edit Gasbag's articles before they get posted on CNBC.com? I have never gotten through the 2nd paragraph without finding errors that any douche analyst could find.
Posted by guest , Nov 23, 2008 9:05PM
@29 - Why don't you go over to 399 Park and keep her warm?
Posted by guest , Nov 23, 2008 9:08PM
btw, why is O's planned announcement at midnight est??? have i misunderstood or is he trying to make everyone miserable....
Posted by guest , Nov 23, 2008 9:14PM
USD/JPY back to 95...
Smells like equities are gonna sell off over the course of the week....
Posted by cy , Nov 23, 2008 9:19PM
Front page of NYT.com...
"Barack Obama is indicating that he will pursue a far more ambitious plan of stimulus spending and tax cuts than what he outlined on the campaign trail."
Can someone explain how you can aggressively "stimulus spend" and cut taxes at the same time?
Posted by guest , Nov 23, 2008 9:20PM
@31 did you mean 388 Greenwich St??
Posted by Harald , Nov 23, 2008 9:20PM
DB . . wake up . . . gasbag is telling us gubmint is not buying Citi assets but instead is going to act as a saucer to soak up the spills from the cup of citi losses that runneth over
Posted by guest , Nov 23, 2008 9:21PM
@34, when the government can issue debt at 0%. That's how.
Posted by guest , Nov 23, 2008 9:21PM
whosh, whosh, whosh. can't take it any more. know nothing say nothing.
Posted by guest , Nov 23, 2008 9:23PM
cy--You run a deficit, for now. Unfortunately for us, the GOP's been following that plan since Reagan, whether or not there was a crisis.
Posted by guest , Nov 23, 2008 9:28PM
Gas-Bag is on the phone with Domino's.
Posted by er666 , Nov 23, 2008 9:28PM
harald@36-gasparino isnt reporting shit. he comes out with a new story every 5 mins and says the situation is fluid. basically he's putting out every possible scenario so that when one of the 50 occurs, he can say he reported it.
also, he's twice said that citi's "fearing a run on the bank." irresponsible fucking retard.
Posted by Harald , Nov 23, 2008 9:28PM
@37, you're right. that's the same method that the Big 3 used to run up sales figures while losing hundreds of billions of dollars in the process. scary stuff.
Posted by Harald , Nov 23, 2008 9:32PM
@41 I am only hearing him/them talk about one scenario (the one I described), not 50...
Posted by guest , Nov 23, 2008 9:34PM
why does the market need Citibank? why bail them out? let HSBC take their deposits and let the bank go under!
Posted by guest , Nov 23, 2008 9:36PM
@ 26 --- That is not true lolol
Posted by guest , Nov 23, 2008 9:40PM
@39
So true. Republicans are suddenly righteously vigilant on pointing out fiscal psychosis, while suffering from short and long term memory loss.
Finnegan
Posted by guest , Nov 23, 2008 9:41PM
Latest NYT update (matches CNBC):
http://www.nytimes.com/2008/11/24/business/24citibank.html?hp
"Under the proposal, the government would shoulder losses at Citigroup if those losses exceeded certain levels, according to people briefed on the talks, who spoke on the condition that they not be identified because the plan was still under discussion"
Posted by guest , Nov 23, 2008 9:42PM
Ever since I got laid off I've been using only one sock to cum in when I jack off and now the motherfucker can basically stand up its gotten so crusty
Posted by guest , Nov 23, 2008 9:45PM
@35 no, that woman is standing in front of 399 Park. Thats global Citi HQ & were Vik's office is
388 greenwich is only HQ of Markes & banking
Posted by guest , Nov 23, 2008 9:48PM
#22, I am not at Citi. I am at another troubled bank...but isn't everyone on this site? LOL. The tan won't ever fade. Trust. Thx for your concern though buddy.
#34, it is called a huge deficit. WHere have you been through the Bush years? You should know what that is...
Tanned Banker
Posted by guest , Nov 23, 2008 9:50PM
@48 - a desirable skill to have...put that down on the resume.
Posted by guest , Nov 23, 2008 9:50PM
@48 - http://www.zweg.com/ico/sockboi.gif
Is this yuo?
Posted by guest , Nov 23, 2008 9:50PM
If anyone needs Gagbags numbar let me no. Because I have it and I can give it too you.
SPODE
Posted by guest , Nov 23, 2008 9:54PM
#52, is that Don Juan Carney?
Posted by guest , Nov 23, 2008 9:58PM
http://www.cnbc.com/id/27878049
BREAKING from Gasbag. U.S. Govt to make equity infusion into Citi.
Posted by cy , Nov 23, 2008 9:59PM
Sorry, gang. I did not mean to pin this on Barry O. I'm simply shocked that we're at a point where the nyt can print that as the lead to a front-page article without batting an eye. This current crisis isn't so bad... the real crisis will unfold when foreigners stop lending us money. (and demand we continue to pay back the old loans)
Posted by guest , Nov 23, 2008 10:03PM
@54 - No that's Bess's boyfriend. She's really quite frigid, you know.
Posted by er666 , Nov 23, 2008 10:06PM
@57- you're a loser.
Posted by guest , Nov 23, 2008 10:38PM
#2,
Buy a pistol, load it, place the barrel in your mouth, aim at the rough of your mouth, and pull the trigger.
I really want you to be successful at something.
Posted by guest , Nov 23, 2008 10:39PM
rough = roof.
Red wine is flowing tonight.
Posted by Anal_yst , Nov 23, 2008 10:39PM
Fuck.
Just.
Fuck.
Posted by guest , Nov 23, 2008 10:50PM
tanned banker.... i can only imagine how gay this fucker is.
Posted by guest , Nov 23, 2008 11:54PM
fx is fading this equity pop on the C news...
globex es nq ym are way ahead of the risk crowd as to euro and yen carry...
just an observation....
23:54 EST