will citi go under?

[z0mb13]

seriously, now the stock is hovering around $5, it dropped 40% alone in the last 2 days.

I don't hold any Citi stocks, but my family has significant deposits in Citi's wealth management unit in South east asia

should I consider pulling the money out and put it in a safer bank, like HSBC?

I keep reading that the Citi has ample supply of liquidity and well capitalized, but when the run of the bank happens, no one is safe (look at wamu, wachovia, etc)

Any inputs?

 

[dartworth]

let me blow the dust off my magic 8 ball...brb

 

[Pepsei]

it's going to get worse when it hits below $5, because some institutional trading firms will sell a large chunk... and that's going to make the price go down even more.link

 

[CalvinHobbes]

I'll be buying below $4

 

[StageLeft]

Originally posted by: CalvinHobbes
I'll be buying below $4

I'm buying when it's below $2.50.

See where we're going with this?

--

I hope Citi goes belly up for "upgrading" my 5% cash advance card a few years back to the POS it currently is. Once I accumulate enough for another cash back check from them I'm done with that card.

 

[z0mb13]

Originally posted by: Skoorb

Originally posted by: CalvinHobbes
I'll be buying below $4

I'm buying when it's below $2.50.

See where we're going with this?

--

I hope Citi goes belly up for "upgrading" my 5% cash advance card a few years back to the POS it currently is. Once I accumulate enough for another cash back check from them I'm done with that card.

wow such anger for such a small thing!

 

[StageLeft]

Originally posted by: z0mb13

Originally posted by: Skoorb

Originally posted by: CalvinHobbes
I'll be buying below $4

I'm buying when it's below $2.50.

See where we're going with this?

--

I hope Citi goes belly up for "upgrading" my 5% cash advance card a few years back to the POS it currently is. Once I accumulate enough for another cash back check from them I'm done with that card.

wow such anger for such a small thing!

NEVER CROSS ME

 

[Modular]

I hope so. They have the majority of my school loans. Fuck em. They go under, I don't have to pay = win

 

[UberNeuman]

Originally posted by: Modular
I hope so. They have the majority of my school loans. Fuck em. They go under, I don't have to pay = win

Someone will buy them up, so you'll still get to pay that debt....

 

[Modular]

Not if I don't want to! That's what Barack promised!11

 

[IronWing]

They did slow down the flood of CC offers to one or two per week so maybe they are hurtin' gerkins.

 

[ponyo]

If it was my money, I would pull the deposits. Why risk it? If you keep it there, you have everything to lose and nothing to gain.

 

[alphatarget1]

Originally posted by: Naustica
If it was my money, I would pull the deposits. Why risk it? If you keep it there, you have everything to lose and nothing to gain.

FDIC insured?

 

[alphatarget1]

I'm glad Citi didn't get to buy Wachovia. If it had gone through I would pull all my money out. They have so much toxic crap on their balance sheet it's not even funny.

 

[ponyo]

Originally posted by: alphatarget1

Originally posted by: Naustica
If it was my money, I would pull the deposits. Why risk it? If you keep it there, you have everything to lose and nothing to gain.

FDIC insured?

FDIC only covers $250k US, and I've no idea what the coverage is in his parent's country. If they're in the wealth management, they have way more than $250k.

 

[z0mb13]

Originally posted by: Naustica

Originally posted by: alphatarget1

Originally posted by: Naustica
If it was my money, I would pull the deposits. Why risk it? If you keep it there, you have everything to lose and nothing to gain.

FDIC insured?

FDIC only covers $250k US, and I've no idea what the coverage is in his parent's country. If they're in the wealth management, they have way more than $250k.

well the spore government recently announced that ALL bank deposits will be fully insured (no cap) until dec 2010. So at least there is a safety net. But obivously we dont want to come to that.

 

[z0mb13]

Originally posted by: alphatarget1
I'm glad Citi didn't get to buy Wachovia. If it had gone through I would pull all my money out. They have so much toxic crap on their balance sheet it's not even funny.

actually it would be better for citi if they bought wachovia, since they can shore up their capital from wachovia's bank deposits

 

[alphatarget1]

Originally posted by: z0mb13

Originally posted by: alphatarget1
I'm glad Citi didn't get to buy Wachovia. If it had gone through I would pull all my money out. They have so much toxic crap on their balance sheet it's not even funny.

actually it would be better for citi if they bought wachovia, since they can shore up their capital from wachovia's bank deposits

Fvck citi. I'm a WB customer. If Citi had bought WB I'd pull my money out in a heartbeat.

I don't see Citi failing. Carved up into little pieces to serve other banks? Sure.

 

[BlahBlahYouToo]

Originally posted by: z0mb13
seriously, now the stock is hovering around $5, it dropped 40% alone in the last 2 days.

I don't hold any Citi stocks, but my family has significant deposits in Citi's wealth management unit in South east asia

should I consider pulling the money out and put it in a safer bank, like HSBC?

I keep reading that the Citi has ample supply of liquidity and well capitalized, but when the run of the bank happens, no one is safe (look at wamu, wachovia, etc)

Any inputs?

please, unless you have $1M in citi bank accounts, do not be an moron and make a bank run.

 

[aphex]

I have a good friend who works for Citi, I hope not

 

[her209]

Greedy bastards...

 

[Indolent]

Originally posted by: Skoorb

Originally posted by: z0mb13

Originally posted by: Skoorb

Originally posted by: CalvinHobbes
I'll be buying below $4

I'm buying when it's below $2.50.

See where we're going with this?

--

I hope Citi goes belly up for "upgrading" my 5% cash advance card a few years back to the POS it currently is. Once I accumulate enough for another cash back check from them I'm done with that card.

wow such anger for such a small thing!

NEVER CROSS ME

Have you noticed if you check your account online, they started putting advertisements right in with the recent account activity? That pisses me off.

 

[SoulAssassin]

I did consulting work for Citi for about a year, I've never seen an organization that was so successful that was so fucked up. I don't know how they accomplished anything. What took me 6 months to do there I can do in a week in my current job. There was so much in-fighting between the various groups it was ridiculous. There was no 'let's do this because it helps the companies bottom line' it was all 'what's in it for me'.

 

[Pepsei]

Originally posted by: alphatarget1

Originally posted by: z0mb13

Originally posted by: alphatarget1
I'm glad Citi didn't get to buy Wachovia. If it had gone through I would pull all my money out. They have so much toxic crap on their balance sheet it's not even funny.

actually it would be better for citi if they bought wachovia, since they can shore up their capital from wachovia's bank deposits

Fvck citi. I'm a WB customer. If Citi had bought WB I'd pull my money out in a heartbeat.

I don't see Citi failing. Carved up into little pieces to serve other banks? Sure.

yes, they tried to steal WB so that they could write off the losses and then sell part of WB off.

Wells Fargo is a better fit. I laugh at Citi's upper management, but feel sorry for people who're going to loose their job.

 

[DomS]

Originally posted by: Pepsei

Originally posted by: alphatarget1

Originally posted by: z0mb13

Originally posted by: alphatarget1
I'm glad Citi didn't get to buy Wachovia. If it had gone through I would pull all my money out. They have so much toxic crap on their balance sheet it's not even funny.

actually it would be better for citi if they bought wachovia, since they can shore up their capital from wachovia's bank deposits

Fvck citi. I'm a WB customer. If Citi had bought WB I'd pull my money out in a heartbeat.

I don't see Citi failing. Carved up into little pieces to serve other banks? Sure.

yes, they tried to steal WB so that they could write off the losses and then sell part of WB off.

Wells Fargo is a better fit. I laugh at Citi's upper management, but feel sorry for people who're going to loose their job.

The problem with Citi is that they kept acquiring these shit assets and shit companies and weakening the company. NO clue what they were thinking. I mean, it's a gamble. In 5 years it may look genius, but not if the company tanks before then.