Sources with knowledge of the deal say government officials are now getting cold feet over the plan to buy the troubled assets from Citigroup.The problem with buying the assets from Citi is political: people close to the deal know that other firms will line up and ask the government to purchase their troubled assets as well knowing that all brokerage stocks got crushed when treasury secretary hank paulson reversed his plan on the tarp to direct capital infusions to the banks and away from buying troubled assets.
And my favorite part, because I know he's playing to us:
Bottom line: this is very fluid and the situation may change again, but as of now government getting cold feet on plan to buy troubled assets, which leaves direct capital infusion on the table.
Posted by guest , Nov 23, 2008 6:34PM
wideclops
Posted by guest , Nov 23, 2008 6:36PM
unintended consequences, much?
goddamn gov't can't seem to get out if it's own way...
my prediction: something, something...wideclops...something, something
Posted by guest , Nov 23, 2008 6:37PM
my tanning solution is liquid. what i gave to the wideclops chick (my wanna be wife...she is kinda cute) is liquid.
Cheers B1tches,
Tanned Banker
Posted by guest , Nov 23, 2008 6:39PM
Wideclops!
Anyone who dares omit this word in future posts will suffer a fate worse than C.
Posted by guest , Nov 23, 2008 6:39PM
What does Gasbag taunt us so?
Posted by guest , Nov 23, 2008 6:40PM
c must merge with wideclops to survive
Posted by guest , Nov 23, 2008 6:43PM
dealbreaker=shitty reports....
Posted by guest , Nov 23, 2008 6:43PM
gasbags + melissa lee = sleeveless garbagul, Korean wideclops
Posted by er666 , Nov 23, 2008 6:44PM
@7- that you still read and comment on.
Posted by guest , Nov 23, 2008 6:44PM
why bess is posting all the cnbc news now...so boring
Posted by Bess Levin , Nov 23, 2008 6:47PM
@10- your 'dealbreaker sucks' shtick (comment #10, #7) is getting boring.
Posted by guest , Nov 23, 2008 6:49PM
According to CNBC there's a wealth of real estate available for $500-$1000. Looks like some pretty nice houses.
I'm just going to do that for money now on. Screw this.
Posted by guest , Nov 23, 2008 6:49PM
@10,7 ha! busted.
Posted by guest , Nov 23, 2008 6:50PM
13 here. forgot, "wideclops."
Posted by guest , Nov 23, 2008 6:54PM
I'll offer $1 for any synthetic security.
See government, there are natural buyers for this slime.
Posted by guest , Nov 23, 2008 7:03PM
Gasbag is putting the smack down on WSJ and NYT
Posted by AJ , Nov 23, 2008 7:10PM
@11 I am so in love with you
Posted by guest , Nov 23, 2008 7:10PM
Gov't bailout = bonuses are back, baby!
Posted by guest , Nov 23, 2008 7:11PM
they should be nervous, these weekend deals haven't worked out very well.
Posted by Barack Obama , Nov 23, 2008 7:14PM
Problem with Vikram is that he is not a member of the tribe.
Posted by guest , Nov 23, 2008 7:16PM
@18; not if you work in FICC they ain't!
Posted by Goldman Sachs Neophyte , Nov 23, 2008 7:17PM
@7, 10 you suck, dealbreaker owns you. I am hoping Wideclops is on tonight. Update: the situation is still fluid.
- that guy from Goldman Sachs (a.k.a.: TGFGS)
Posted by guest , Nov 23, 2008 7:17PM
@21
I work in Equities.
Posted by guest , Nov 23, 2008 7:20PM
citi blows.... all their assets are shitty. see you fags in the unemployment line. real estate in tribeca is about to get real cheap.
Posted by guest , Nov 23, 2008 7:22PM
@23 - This is no longer about saving your job. That's long gone. This is about saving the U.S. economy, and perhaps even western civilization.
Posted by guest , Nov 23, 2008 7:25PM
@23
I'm not worried about my job or Citi. It will all work itself out in the end and if the MDs want to pay themselves, the Directors and maybe the VPs will get something.
Posted by guest , Nov 23, 2008 7:26PM
DickRam Bandit?
Posted by guest , Nov 23, 2008 7:26PM
26, food stamps... thats about all the currency your MDs have left dude.
Posted by guest , Nov 23, 2008 7:27PM
Ok, here’s the deal, Wachovia is buying Citi for 0.75 / share.
The press-release, for tomorrow states (in part)...
the merger will level-set the tablestakes and orchestrate both bank's organic core competencies, while leveraging the strategic synergistics in a going-forward space.
That, of course, is the most important sentence of the memo.
Posted by Phobos , Nov 23, 2008 7:29PM
@25
You should try harder, if you push the drama envelope just a little farther, you might have some good material for a Michael Crichton movie.
"Timmy, you can't do it! You can't save the Economy!!"
"If I don't try, I don't know who will. I'm the last, best hope."
"God bless you Timmy, I'll always love you. I'll always... love. you."
Posted by guest , Nov 23, 2008 7:29PM
@28
I can tell you know very little about the comp process.
Posted by guest , Nov 23, 2008 7:31PM
at 31.... i can tell i hit a nerve you soon to be unemployed sack of shit. have fun trying to find a job out there. and hey, happy bonus season girlfriend. when you run out of money i'll lend you some cash,,, i'll be fucking your girlfriend so come look for me there.
Posted by guest , Nov 23, 2008 7:32PM
@32
What's you phone #?
Posted by guest , Nov 23, 2008 7:34PM
its 1-800- monster.com buddy.... you better get your resume uploaded, HAHAHAHAHAHAHAHAHAHAHA
Posted by guest , Nov 23, 2008 7:36PM
@29 How dare you twist my carefully crafted words? I will not have bloggers like this clown (http://www.portfolio.com/views/blogs/market-movers/2008/08/25/when-vikram-met-jim) moking me!
-Vikram
Posted by Anal_yst , Nov 23, 2008 7:37PM
where the fuck do all these haters come from?
Former bankers and traders who've been laid off, typing from their lairs?
Posted by guest , Nov 23, 2008 7:38PM
what does moking mean?
isn't citi the investment bank where you go lob your resume and line up a back up plan and if you can't get a job at a real IB you just take the worthless offer at citi?
citi never sleeps right? well it looks like their tired ass is in for a long nap now. see ya pussies
Posted by guest , Nov 23, 2008 7:46PM
@ Anal_yst -- the pygmy natives are restless!
Posted by guest , Nov 23, 2008 7:53PM
http://www.cnbc.com/id/27878049
Update from the Gasbag. Lots of feverishness and fluidity. I had that once, couldn't get off the crapper for five hours.
Posted by guest , Nov 23, 2008 7:54PM
If you give me 2/20, I will tell you how this plays out.
Posted by guest , Nov 23, 2008 8:05PM
@35 - boring and non-humorous - let them take ownership of that crap
Posted by mrpink , Nov 23, 2008 8:06PM
40-
Sam Israel already beat you to it.
-mrp
Posted by mrpink , Nov 23, 2008 8:08PM
@33-
Give me a ring: 212-479-7990
-mrp
Posted by Anal_yst , Nov 23, 2008 8:17PM
ahaha mr P you still have the NY rejection hotline, priceless
Posted by mrpink , Nov 23, 2008 8:30PM
Anal_yst-
I still give that out here in Chi.. Since I moved, I just tell them I didn't want to get my number changed.. The ones who have never been outside of the Midwest never seem to figure it out.. It's quite hilarious.
@45 - You have a meeting with Wideclops on the 5th floor at 8:15. Don't be late.
-mrp
Posted by guest , Nov 23, 2008 8:37PM
wideclops sounds like a half breed
Posted by guest , Nov 23, 2008 8:47PM
wideclops is Gasbag's source.
Be on the look out for any Wideclops in the new Treas Dept.
MCC...does she have fripples tonight?
Posted by mrpink , Nov 23, 2008 8:55PM
46-
Half cankle, half woman.
-mrp
Posted by Lowly Assistant , Nov 23, 2008 10:24PM
Liza Minelli is a wideclops. I could never pin-point what I found so bizarre about the woman. Thank you The Knife and DB for inadvertently bringing the term to my attention.
Posted by guest , Nov 23, 2008 10:33PM
@49
You win the prize for the best wideclop reference.
Posted by guest , Nov 23, 2008 10:39PM
i am a little disappointed that you did not send minions of umpa lumpas to hang outside CC to either watch VP's activities and have them TAR and/or look for the now infamouse wideclops.
Posted by guest , Nov 24, 2008 12:32AM
Citi sleeps with the fishes tonight