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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First to get confused by the title
It’s plausible.. They’re a bank now too.
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.
Better than a Walgreen’s takeover.
Well Charles Gasbag – whatcha’ got on this????????
How did the AMEX firings go?
No problem, I’m sure Ken Lewis will make a deal this weekend to take C out at a premium…
Better than a Walgreen’s takeover.
Erin Burnett is juvenile – can we get some thoughtful reporting please? We deserve better… Melissa Francis, Rebecca Jarvis, Melissa Lee or Margaret Brennan.
Paulson is still working for Goldman.
#10: ohhhh becky jarvis
I but it
brennan, I 2nd that.
Sachs and the Citi
Good intel EP
Just look at LEH liquidation to understand what these banks are actually worth.
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.
Goldigroup
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!
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!
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!
Sachs in the Citi
How about “Goldman Sachs the Citi”? Even better.
The Guy from Delaware
I work at GE, can we be a bank too?
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!
Sachs and the Citi
is HSBC not a potential buyer?
@10
Melissa Francis is as bright as Sarah Palin.
Hey 17, 22, 23, 24, 25, 31, 33, 34, 35, 36: why don’t you do the world a favor and kill yourself?
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.
@29 “Storm of Steel” should suit you just fine.
-MoneygripWisdom
@ 36, etc.
stop
37: The incessant “bottom” jokes this morning was “bright”? EB’s irrelevant as a journalist.
@ 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
Is there really nothing else going on today that every post is about the big C?
No, nothing? Well okay then.
Sachs and the Citi
or
Group Sachs
?
The Citi may never sleep…but its about to take a dirt nap!
Citi laid off a ton of its Capital Markets group on Greenwich St yesterday, I think the entire floor is empty now
@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.
@#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
I think TGFD is a little too excited about the return of 24.
GS is (and likely has been) on the restricted list @ C for quite some time, or so I’ve heard…
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.
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.
TGFD, you’ve hit it. Privateering could be a great source of job creation for the USA.
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.
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.
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.
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!
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.
Sachs and the Citi for the win!
hah
how bout SachsiGroup
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.
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.
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.”