ritholtz.com - 11/24/2008
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The Bailout of Citigroup moves forward (Is this book ever going to be finished?):
“Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities ...
economistsview.typepad.com - 11/24/2008
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economistsview.typepad.com —
It's bailout time. Let's start with Paul Kedrosky:
Good Bank, Bad Bank, and F---ed Bank : Apparently
Citibank and the U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on ...
(more)
The Citigroup Bailout
bloomberg.com - 11/24/2008
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bloomberg.com —
Nov. 24 (Bloomberg) -- Citigroup Inc. , facing
the threat of a breakup or sale, received $306
billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank after its stock fell 60 percent last week. Citigroup ...
(more)
Citigroup Gets Guarantees on $306 Billion of Assets ...
bloomberg.com - 11/24/2008
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bloomberg.com —
Commentary by Jonathan Weil Nov. 24 (Bloomberg) --
Over and over, as its stock price plunged last
week, Citigroup Inc. repeated the same tired line. Citigroup has “very strong capital,” the bank kept saying. Its capital was so strong that the New ...
(more)
Citigroup’s ‘Capital’ Was All Casing, No Meat: Jonathan ...
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Monday links: banks are different
Abnormal Returns —
... Citigroup (C) gets a (lenient) lifeline. (breakingviews, Market Movers, The Baseline Scenario, Crossing Wall Street, Economist’s View, Big Picture)
Why Citigroup and not General Motors? “Banks are different.” (Curious Capitalist)
Fear beats greed. What next? (FT Alphaville)
TIPS vs. Treasuries. Quite ...
At What Point?
Bear Mountain Bull —
The Citi deal prompts a few questions from The Big Picture : Un-fricking-believable. The US is guaranteeing $306 billion on bad investments (So much for Capitalism without failure). For Citi, its a great deal — but its a terrible one for taxpayers. The dividend payment has been restricted to one cent per quarter for 3 years. Can someone explain why even a penny is allowed? Where is the “Protection” for the taxpayers? Where are the clawbacks? How about going after the idiots that bought a third of a trillion dollars worth of junk, and then got paid large on it? Where is the ...
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ritholtz.com 2/27/2009 — Losers double down.
That’s the classic trading rule which the USA is about to violate in an enormous way. According to trading maven Dennis Gartman , one should “never, ever, ever, under any circumstance, add to a losing ...
Citigroup's Books Are Fiction —
The Big Money 11/24/2008
Over and over, as its stock price plunged last week, Citigroup Inc. repeated the same tired line. Citigroup has “very strong capital,” the bank kept saying.
Its capital was so strong that the New York-based lender yesterday was ironing out yet ...
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