Citi now below $1.. I hope they burn.

[Deleted member 4644]

Citi is a company built on illegality and fraud. When it merged with Travelers in 1998, the merger was technically a violation of U.S. law, a law which was then gutted by the Republican Congress and Bill Clinton the following year, leading to dozens of unholy mergers of I-banks and savings and loans.

 

[Genx87]

Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

 

[ElFenix]

actually, it wasn't a technical violation of US law. the bank holding company act allowed 2 years for a company that became a bank holding company to divest itself of operations not permissible for a bank holding company. there were an additional 3 one-year exemptions that could be taken advantage of, allowing up to 5 years.

not to mention the provisions of glass-steagall that were reworked by gramm-leach-bliley were considered to be a competitive disadvantage for america vs european operations.

 

[StageLeft]

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

I loled, and yes that is the bank that the gov now owns 36% of.

 

[Dari]

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

Government isn't supposed to make sound private investments.

 

[OCGuy]

Citi is buying most of my low-rate mortgages right now. It wouldnt be good for people with great jobs/credit if they went down completely. (Not that I think we should be funneling them cash, either)

 

[Aharami]

Originally posted by: Ocguy31
Citi is buying most of my low-rate mortgages right now. It wouldnt be good for people with great jobs/credit if they went down completely. (Not that I think we should be funneling them cash, either)

you mean if they went down completely prior to closing? i thought once the property is closed upon, the lender going down wont really affect the homeowner.

 

[OCGuy]

Originally posted by: Aharami

Originally posted by: Ocguy31
Citi is buying most of my low-rate mortgages right now. It wouldnt be good for people with great jobs/credit if they went down completely. (Not that I think we should be funneling them cash, either)

you mean if they went down completely prior to closing? i thought once the property is closed upon, the lender going down wont really affect the homeowner.

No people who are already closed are fine, Im just saying they are a major player. It would leave Chase, Countrywide, and Wells basically. (This is on the wholesale channel)

 

[jman19]

Originally posted by: Deleted member 4644
Citi is a company built on illegality and fraud. When it merged with Travelers in 1998, the merger was technically a violation of U.S. law, a law which was then gutted by the Republican Congress and Bill Clinton the following year, leading to dozens of unholy mergers of I-banks and savings and loans.

Get your facts straight before foaming at the mouth please... wishing for large US companies to go down is just dumb.

 

[CycloWizard]

So should I stop making my student loan payments yet? 😛

 

[jpeyton]

Originally posted by: Deleted member 4644
Citi now below $1.. I hope they burn.

Rush...is that you?

 

[dullard]

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

Bush should be proud. The US government is finally into the stock market. He was just 8 years early with the idea.

 

[Kwatt]

Originally posted by: Dari

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

Government isn't supposed to make sound private investments.

Them seem to be hitting the Bullseye.

.

 

[Dear Summer]

so can I do a balance transfer of all my debt to my citi credit card and hope it disappears?

it's a joke

 

[glenn1]

Originally posted by: Deleted member 4644
Citi now below $1.. I hope they burn.

They have somewhere north of 300k employees, a great percentage of those in the NYC metro area? Either way, if somewhere has to lose jobs at least it's New York.

 

[chess9]

Originally posted by: Dari

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

Government isn't supposed to make sound private investments.

Which explains why our government made that "investment".

-Robert

 

[jman19]

Originally posted by: glenn1

Originally posted by: Deleted member 4644
Citi now below $1.. I hope they burn.

They have somewhere north of 300k employees, a great percentage of those in the NYC metro area? Either way, if somewhere has to lose jobs at least it's New York.

:roll:

 

[ericlp]

"banks are too big to fail" Mission accomplished!

Well...... The sad part is we will bail them out again maybe own up 70% of that bank. Look the System is REALLY BROKEN. Black Friday really could be tomorrow! Or was it black Monday? This is getting scary and I really think we should let these big banks fail how much can we lend them till we own the entire system before it collapses? I don't know what to say. But we can't keep bailing out these insurance, banking and auto industries. They need to fail the system needs to correct itself ... Yes it's going to get ugly but at least it won't be as ugly as throwing away another 90 billion at a bank or industry that is just going to fail anyway. We are already in too deep... Put your boots on the shit is getting deeper by the day.

 

[SP33Demon]

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

Sure, if you like 1-2% growth a year. It may not fail but it's going to grow at the rate of coal --> diamond.

 

[soccerballtux]

Originally posted by: Skoorb

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

I loled, and yes that is the bank that the gov now owns 36% of.

It's valued at 1% right now because the gov't is going to take it over/nationalize is. Extinguish all investor wealth.

 

[alien42]

Originally posted by: soccerballtux

Originally posted by: Skoorb

Originally posted by: Genx87
Isnt this the bank the US govt just bought a 36% stake in? Looks like a sound investment.

I loled, and yes that is the bank that the gov now owns 36% of.

It's valued at 1% right now because the gov't is going to take it over/nationalize is. Extinguish all investor wealth.

gotta love it when people state their opinion as fact.

 

[wwswimming]

somehow their corporate marketing slogan sounds appropriate -
"Citi Never Sleeps".

i'd have trouble sleeping too.

http://www.citigroup.com/citi/homepage/

 

[WhipperSnapper]

Is it better to buy a Double Cheeseburger at McDonalds or is it better to buy a share of Citibank stock? Which has more value?

Which is greater? The dollar value of Citibank's total amount of stock or the dollar value of Citibank's CEO's salary, bonuses, stock options, and golden parachute?

 

[alien42]

Originally posted by: WhipperSnapper

Is it better to buy a Double Cheeseburger at McDonalds or is it better to buy a share of Citibank stock? Which has more value?

in the end they are both shit 😉