The fate of the world rests in Citi’s hands.
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The fate of the world rests in Citi’s hands.
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I love how the government is using Citi as its little puppet first the mortgage cram downs in bankrupcy court and now this. Just please please please nationalize it already.
Where’s the section on their new pawnshop initiatives?
At least Vikram’s pretty much a lock at this year’s Oscars
@3
Chiti Slumdog wallah?
Why bother with the report? Some jackoff community organizer in inner city chicago is still going to roast them for something, why give them the detail?
too flippant, didn’t attend
“Some jackoff community organizer in inner city chicago”
still can’t get over losing, can ya?
#5 = Rush Limbaugh.
I bet Rush has a hell of a time getting the lint off his brown shirts.
too drunk, didn’t brenneman
In the real 4th Reich, Limbaugh would be the first to go!
(this quote shamelessly after Jello Biafra)
@8
Who the hell still listens to that fat ass, butt plug wearing, pill popping slob?
too shitty, didn’t group
what’s with all the blue on Pg 10??? They don’t know another color???
Guest@#11…
TGFD occasionally listens to Rush Limbaugh; I like Michael Savage better, though.
The Guy from Delaware
@12 – winner!
so let me get this straight, tricky vick is paying some monkey…er, I mean, analyst government money to create this 30+ page report on how they are using the government’s money? I do give him an a+ for the “slick factor”. it’s curious to note that “student loans” is 3 on the list but has the smallest amount of dispersed funds. why not just order them in terms of size – are they trying to make a statement?
Nowhere in the “Citi in the Community” section does it mention the heartbreak they delivered to thousands of little children by canceling their sponsorship of the train exhibit during the holiday season….jerks
Cluzo@#15…
Do you think any of the big financials are worth buying if they get back to their Nov or Jan lows?
Also, I read yesterday that two GS analysts expect the SP500 to test its 752 lows within a month, so they’re buying March825 puts and selling March745 puts.
I remember one time when you told me that you were “buying way-out-of-the-money calls on the SDS & the SSO.”
The Guy from Delaware
I don’t bother with the report, but for those who did, does it include an before TARP and after TARP comparison? Otherwise it’s a PR stunt.
@TGFD – I am in puts on wfc (the place needs to burn to the ground) given it’s rosy view of california real estate, I believe they have to fall sooner or later.
I didn’t go into the sds/sso strategy because of the 2x leverage plays havoc on the long term returns. there have been several articles on the effect of the leveraged etf on “investors” as opposed to “traders”. basically, it’s a bet on daily moves, so the index could have an up month, but you could be down.
I saw the article on bloomberg as well. the best way to play that is the to buy the unlevered index options – unless you want to trade it daily. they look a little pricy though – spy june puts are expensive, the june 70’s are going for $3.50 (talk to vol is king about that). the short s&p calls have limited volume. again, I’m not a financial rep (and don’t play one on tv) – so use your own judgment or talk to one. good luck.
why hasnt Citi failed yet??
why doesnt the government take back its money and let Citi go to the lions??
why dont they find a way to back out of CitiField and save themselves a bunch of money?? (it is legally binding so therefore if they do back out, lawsuits commence)??
why can’t Citi sell their “non-core” businesses like Primerica, who can bring them $1 billion if sold??
WHY WHY WHY is the govt. bailing out the banks where they can instead fund companies that will produce energy, education, healthcare AND small-businesses?? if they give them money, wouldn’t that create more jobs??
and why not tax the heck out of foreign and high-end companies doing business here in American??
(sigh) i need a drink.
@e_ant – I’m sure the gov’t could step in a break the contract if they really wanted to by simply adding another new rule to the tarp funds. they’ll cry all day long about $50 million for plane (which would actually get used), but I don’t hear a peep about $400 million for a fking baseball stadium (let’s be clear, the field will outlast the company)…
@21 – i totally agree. but Citi made that Mets deal WAY before their problems started to pile up. they went ahead and did that contract on the assumption that they had enough money and will have enough money coming in. they got ghetto-fabulous and got themselves some really great suites.
now if the Mets deal is still on will they use that TARP money to pay for the stadium? if they have an inch of intelligence, NO. so where do the suites go to? the govt?? lol.
my assumption is why not, like you said, break that contract THEN the govt give money to the Mets so Citi could save themselves…for a month?
@ e_anthony
I’m severely biting my tongue here, so bear with me, because it pains me to have to reply to your whining comment @ 20 (and less-so to 22), but think, just for a second, of the 2nd, 3rd, etc order effects of the Gov’t stepping away from its implicit support of C.
If you can’t wrap your head around that, well then I simply cannot help you.
Godspeed Sir.
Release some more TARP so the mets can sign Manny
LETS GO METS. LETS GO METS.
save citi little league
http://thereformedbroker.com/2009/02/03/pandits-bandits-a-memo-to-citigroups-sponsored-little-league-team/
@22
business here in American?
you moron shut the fuck up already and go get your Coors Light
@22 – i drink Miller Lite. lol.
@23 – im not saying they should. if i did, im sorry.
but if you think its necessary for the govt. to step in for C, tell me why. would it only help C or the economy also.
c’mon. take me to school. lol.
@e_anthony
Look, in vacuo, you could theoretically unwind C, which – go figure – is pretty much what’s happening now (and C is not alone in undergoing this process).
Unfortunately, what you seemed to be suggesting is pulling the plug in one fell swoop, which would be (even more) catastrophic than what we’re going through already.
You think the LEH fallout was bad, if C lost its ‘most favored disaster bank status’, then, my friend, you’d really see what its like for sh!t to hit the fan.
Citi isn’t too big to fail. It already has. A proper Lehman bonfire would be much deserved but the mindboggling amount of legal hassle involved is scary. As Paul Galant pointed out a month ago Citi Global Transaction Services process payments for US passports and all sorts of other stuff. If C fails its taking most everyone with them. Not to bankruptcy but to years if not decades spent on the phone to customer representatives in India/Hungary/Phillipines trying to find out what the hell happened to my checking account/gold bullion/leased jet etc etc etc
@Anal
so youre saying C is a BIG part of this economy, so much so that every part of what C is reverberates to every part of this country?
C then needs to sell what is not profitable and sue anyone for anything:
http://money.cnn.com/2009/02/03/news/companies/citi_suit/index.htm