Citibank

[Ashkelon]

Can someone help me understand how Citibank can get a 50 Billion dollar liquid capital influx and an additional 300 Billion in taxpayer backed loan guarantees for absorbing bad debt and stock tumbles below a dollar a share and NOW they say they made 8 Billion last month thereby creating a jump in the Stock Market?

So, are people assuming the bailout works when we just take an eraser to a company's balance sheet by giving it money for a "do over" and then allowing it to make a claim of "see how successful we are?"

I only took macro, micro,statistics and one economic theory class so I can't get my mind around this one. If you have any educational insight you could share I would appreciate it because my intial analysis only allows me to scream "outrageous". I have yet to see where the CFO or CEO has plans to return this "profit" back to the treasury.

 

[Feign]

Derivatives yo, they're the future. Housing has nowhere to go but UP UP UP.

 

[INRanger]

The same way you never meet anyone who was a clerk in Vietnam. They wait for it......LIE!

 

[yotewacker]

Did you know the majority of Citi is owned by an Arab? Who has more money than us and were bailing him out!

 

[Panama]

First, I am a race fan!
Second, I am not a total dumbass.
Third, How the HELL does this work CitiFinancial Racing - NASCAR Nationwide Series when you are getting bailout money?

 

[CarmelHP]

Actually, the US Government is now the largest stockholder.

 

[Glockster]

Here's my insight: BUY CITI STOCK!

 

[Ashkelon]

Actually, the US Government is now the largest stockholder.

Correct, the US Gov't owns approx 36%. If so, how about a dividend to the treasury to help subsidize round II since that appears to be the way the Congressional winds are blowing.

 

[CarmelHP]

Correct, the US Gov't owns approx 36%. If so, how about a dividend to the treasury to help subsidize round II since that appears to be the way the Congressional winds are blowing.

Or fire all the dumba**es who drove it into the ground and put government dumba**es in charge. Really, corporate bank directors have a lot more in common with bureaucrats than with entrepreneurs anyway.

 

[Ashkelon]

So very true. When I saw the CFO or CEO of Citi announce that their way of doing business would not change and that they were going to stick with their overall strategies I about fell out of my chair !! The bureaucratic govbots and the large corporate mentality lack ability to shift gears and thought processes. They just keep plugging away at the same failed measures. Note the main stream news media plugging how the dow is "soaring" back up 300 points. Wow, I don't want to be all gloom and doom but one cooked book profit statement does not an economic recovery make. I still look out my office window and see many people walking by in the middle of the day and they don't appear dressed for any kind of work.