Apparently, if you were at Citi yesterday, you had a hard time trading in NYSE:GS- glean from this what you will for it is but one of the totally unfounded rumors swirling around us today, all of which have the basic form of Goldman taking over a large chunk of Citi's deposits. And yes, we do think it is gauche asking how much that's going to cost.
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Posted by guest , Nov 21, 2008 10:26AM
First to get confused by the title
Posted by guest , Nov 21, 2008 10:26AM
It's plausible.. They're a bank now too.
Posted by cy , Nov 21, 2008 10:27AM
Hi all...
I'm organizing a basketball game for all dealbreaker writers, readers, commenters, etc. The game will take place on the unfathomably large surface between the wideclops' eyes. Please let me know if you're interested.
Posted by guest , Nov 21, 2008 10:27AM
Question is will it be Citiman or Gold bank
Posted by guest , Nov 21, 2008 10:27AM
Better than a Walgreen's takeover.
Posted by guest , Nov 21, 2008 10:27AM
Well Charles Gasbag - whatcha' got on this????????
Posted by guest , Nov 21, 2008 10:28AM
How did the AMEX firings go?
Posted by guest , Nov 21, 2008 10:28AM
No problem, I'm sure Ken Lewis will make a deal this weekend to take C out at a premium...
Posted by guest , Nov 21, 2008 10:29AM
Better than a Walgreen's takeover.
Posted by guest , Nov 21, 2008 10:29AM
Erin Burnett is juvenile - can we get some thoughtful reporting please? We deserve better... Melissa Francis, Rebecca Jarvis, Melissa Lee or Margaret Brennan.
Posted by guest , Nov 21, 2008 10:29AM
Paulson is still working for Goldman.
Posted by guest , Nov 21, 2008 10:30AM
#10: ohhhh becky jarvis
Posted by guest , Nov 21, 2008 10:32AM
I but it
Posted by guest , Nov 21, 2008 10:34AM
brennan, I 2nd that.
Posted by guest , Nov 21, 2008 10:34AM
Sachs and the Citi
Posted by guest , Nov 21, 2008 10:36AM
Good intel EP
Posted by guest , Nov 21, 2008 10:40AM
GOLDMAN WANTED THIS AND STAGED.
HIRED CHARLIE GASBAG TO DO THE HIT ON C. NOW THEY ARE HOPING TO GET CITI'S DEPOSITS. INSANE THAT ANYONE CAN GET AWAY WITH THIS!
Posted by guest , Nov 21, 2008 10:41AM
Just look at LEH liquidation to understand what these banks are actually worth.
Posted by guest , Nov 21, 2008 10:42AM
The Goldman Citi has a nice ring to it.
The Guy from Delaware
Posted by guest , Nov 21, 2008 10:42AM
Kenya: Somali pirates make $150M in a year
http://news.yahoo.com/s/ap/20081121/ap_on_bi_ge/piracy
The economics of this are making more and more sense now.
Posted by guest , Nov 21, 2008 10:44AM
Goldigroup
Posted by guest , Nov 21, 2008 10:44AM
GOLDMAN WANTED THIS AND STAGED IT.
HIRED CHARLIE GASBAG TO DO THE HIT ON C. NOW THEY ARE HOPING TO GET CITI'S DEPOSITS. INSANE THAT ANYONE CAN GET AWAY WITH THIS!
Posted by guest , Nov 21, 2008 10:44AM
GOLDMAN WANTED THIS AND STAGED IT.
HIRED CHARLIE GASBAG TO DO THE HIT ON C. NOW THEY ARE HOPING TO GET CITI'S DEPOSITS. INSANE THAT ANYONE CAN GET AWAY WITH THIS!
Posted by guest , Nov 21, 2008 10:44AM
GOLDMAN WANTED THIS AND STAGED IT.
HIRED CHARLIE GASBAG TO DO THE HIT ON C. NOW THEY ARE HOPING TO GET CITI'S DEPOSITS. INSANE THAT ANYONE CAN GET AWAY WITH THIS!
Posted by guest , Nov 21, 2008 10:45AM
Sachs in the Citi
Posted by guest , Nov 21, 2008 10:46AM
How about "Goldman Sachs the Citi"? Even better.
The Guy from Delaware
Posted by guest , Nov 21, 2008 10:47AM
I work at GE, can we be a bank too?
Posted by guest , Nov 21, 2008 10:47AM
EP, I know times are tough right now, but you could please take a minute to give me a book recommendation? I would like to read about WWI on the eastern front. Any thoughts? All the best british writers only seem to care about their little bloody salient in flanders. Thanks!
Posted by guest , Nov 21, 2008 10:47AM
Sachs and the Citi
Posted by guest , Nov 21, 2008 10:48AM
is HSBC not a potential buyer?
Posted by guest , Nov 21, 2008 10:50AM
@10
Melissa Francis is as bright as Sarah Palin.
Posted by guest , Nov 21, 2008 10:51AM
Hey 17, 22, 23, 24, 25, 31, 33, 34, 35, 36: why don't you do the world a favor and kill yourself?
Posted by guest , Nov 21, 2008 10:51AM
I think Goldman has its own problems and most likely won't be with us in the end. Unless they can swindle another "I believe in Goldman" schmuck they won't be buying any deposits.
It is hard to guess, but like Citi Goldman probably has a bunch of junk sitting off balance sheet in the Caymans. But we don't really know and this is causing a crisis of confidence (= shares are plummeting). Folks we are living in a BAC, WFC JPM world now. Like it or not we better start getting used to it.
Posted by guest , Nov 21, 2008 10:52AM
@29 "Storm of Steel" should suit you just fine.
-MoneygripWisdom
Posted by guest , Nov 21, 2008 10:53AM
@ 36, etc.
stop
Posted by guest , Nov 21, 2008 10:53AM
37: The incessant "bottom" jokes this morning was "bright"? EB's irrelevant as a journalist.
Posted by guest , Nov 21, 2008 10:54AM
@ 17,22,23,24,25,31,33,34,35,36--
Vikram, I suggest you stop making these duplicate posts and get back to the board meeting.
Luv,
Lloyd
Posted by Debter , Nov 21, 2008 10:55AM
Is there really nothing else going on today that every post is about the big C?
No, nothing? Well okay then.
Posted by guest , Nov 21, 2008 10:56AM
Sachs and the Citi
or
Group Sachs
?
Posted by guest , Nov 21, 2008 11:01AM
The Citi may never sleep...but its about to take a dirt nap!
Posted by guest , Nov 21, 2008 11:03AM
Citi laid off a ton of its Capital Markets group on Greenwich St yesterday, I think the entire floor is empty now
Posted by Ben_H , Nov 21, 2008 11:04AM
@29
Storm of Steel is good, but if you're looking for something more a monograph than a memoir, you could try to find a copy of Geoffrey Jukes' First World War, which has an entire volume dedicated to the Eastern Front. Probably not in print these days, though.
Posted by guest , Nov 21, 2008 11:05AM
@#20...
RE the somali pirates:
F'n Saudi Arabia mustn't care much about $100mil of oil or about a new 2000-ft tanker worth multiples of that amount.
Otherwise they would mount (4) 50-cal machine guns on both port & stbd sides, man each of those 8 guns, and add several more commandos from Blackwater Security Services just in case any pirates made it aboard.
Using fire hoses to repel pirates is no deterrant. Every pirate vessel & crew that the gunners waste is one more that won't come back.
When are the f'n shipping companies going to get some f'n balls and pay a relatively small amount to protect valuable ships, cargoes, and crews? Piracy on the high seas is a serious offense and can be punishable by f'n death.
WTF are those companies afraid of? Astonishing.
The Guy from Delaware
Posted by cy , Nov 21, 2008 11:20AM
I think TGFD is a little too excited about the return of 24.
Posted by guest , Nov 21, 2008 11:21AM
and of all navies, the Indians step up... this is more impressive than all the body-shops in Bangalore.
it is in these cases that the hicks in the south have a point: why the f doesn't the rest of the world (i.e., not the U.S.) *ever* step up re: military action? think of it as a training exercise for the French. seriously, we even had to take care of Milosevic for those across the pond...
Posted by Anal_yst , Nov 21, 2008 11:30AM
GS is (and likely has been) on the restricted list @ C for quite some time, or so I've heard...
Posted by guest , Nov 21, 2008 11:37AM
TGDF, maybe you should go stand on the bow, titanic style, and blind the hell out of these pirates with the obviousness and simpleness of your comments.
Posted by NAS Keflavik boi , Nov 21, 2008 11:43AM
TGFD makes a good point, except about using 50 cals -- They oughta mount a nice 30mm chain gun fore and aft as well.
FWIW, firehoses can work VERY well at repelling boarders, but you need at least a team of 4 on each hose, and the crew size on tankers is ridiculously small.
Posted by guest , Nov 21, 2008 11:48AM
TGFD, you've hit it. Privateering could be a great source of job creation for the USA.
Posted by guest , Nov 21, 2008 12:03PM
Is Blackwater too expensive for these shipping companies? Those guys can take out the pirates and their entire villages at the same time damn it!
I cant believe it that a bunch of idiots with a ricketty boat and 2 guns cant be tacked by the navies of the world.
Posted by guest , Nov 21, 2008 12:50PM
My broker is with Citi (yeah, I'm poor and can't handle my own money) and he has been blocked from buying any GS for the past two weeks. Something leaked within citi as far back as a month ago that this would happen, eventually.
Posted by guest , Nov 21, 2008 12:50PM
My broker is with Citi (yeah, I'm poor and can't handle my own money) and he has been blocked from buying any GS for the past two weeks. Something leaked within citi as far back as a month ago that this would happen, eventually.
Posted by guest , Nov 21, 2008 12:52PM
My broker is with Citi (yeah, I'm poor and can't handle my own money) and he has been blocked from buying any GS for the past two weeks. Something leaked within citi as far back as a month ago that this would happen, eventually.
Posted by guest , Nov 21, 2008 1:06PM
These are the same BS rumors that have no source like they floated around for Lehman just to prop up the stock while they scramble for a deal - Vik is turning into Fuld:
http://yourmortgageoryourlife.wordpress.com/2008/09/04/lehman-brothers-dead-cat-bounce/
Paulson, GS and JPM are taking over the banking industry in the US - wait until 2009!
Posted by guest , Nov 21, 2008 1:09PM
thank you for your book recommendations. i have heard storm of steel is good but i am looking for something more scholarly than a memoir, that spend some time addressing and analyzing tactics as well as grand strategy.
Posted by guest , Nov 21, 2008 1:14PM
Sachs and the Citi for the win!
hah
Posted by guest , Nov 21, 2008 1:22PM
how bout SachsiGroup
Posted by guest , Nov 21, 2008 2:29PM
If you ever was on ship you would know how hard it is to sink a small boat. Especially try and hit it repeatly, not easy. But first you have to locate it, not easy.
Oh yea, Nasty Citi should win.
Posted by guest , Nov 21, 2008 10:13PM
History of the East Indian Company can be a great guide here - pirates need a safe haven, so canonball the shit out of the safe haven and all be good.
Posted by guest , Nov 21, 2008 11:36PM
November 20 (Bloomberg) -- The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.
The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $4.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said. ``You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything," said Ali.
The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's.
Head pirate, Ubu Kalid Shandu, said "we need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup at an attractive valuation and to take advantage of TARP capital to grow the business even faster."
Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better."