online.wsj.com - 3/10/2009
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DAMIAN PALETTA , JON HILSENRATH and DAVID ENRICH Barely a week after the third rescue of Citigroup Inc., U.S. officials are examining what fresh steps they might need to take to stabilize the bank if its problems mount, according to people familiar with the matter. Federal officials describe the ...
baselinescenario.com - 3/6/2009
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baselinescenario.com —
I want to pick up on a theme
Simon discussed in his last two posts : the
recent panic over bank debt, particularly subordinated bank debt. I’ll probably repeat some of what he said, but with a little more background. Remember back to last September. What was the lesson of Lehman ...
(more)
A Quick Note on Bank Liabilities
nakedcapitalism.com - 3/10/2009
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nakedcapitalism.com —
The double-speak in this Wall Street Journal piece,
" U.S. Weighs Further Steps for Citi ." is
so thick that parsing it is like wading through mud. And I do mean to stress the attempts to obfuscate what is going on. Recall that the last retrade of ...
(more)
Citi and Federal Government in New Non-Rescue Rescue Talks
biz.yahoo.com - 3/10/2009
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biz.yahoo.com —
NEW YORK (AP) -- Wall Street has had
its best day of the year, storming higher after
some good news from Citigroup. Citigroup Inc. says it operated at a profit during the first two months of the year. That energized financial stocks and in turn, the ...
(more)
Dow ends up nearly 380 on Citigroup profit news: ...
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Blog Reactions
Citi and Federal Government in New Non-Rescue Rescue Talks
naked capitalism —
... The double-speak in this Wall Street Journal piece, "U.S. Weighs Further Steps for Citi." is so thick that parsing it is like wading through mud. ...
Report: U.S. Considers Further Steps for Citi
Calculated Risk —
From the WSJ: U.S. Weighs Further Steps for Citi Barely a week after the third rescue of Citigroup Inc., U.S. officials are examining what fresh steps they might need to take to stabilize the bank if its problems mount ... Citi executives said they haven't detected signs of corporate clients or trading partners withdrawing their business ... Banking regulators and Treasury officials called Citigroup executives over the weekend ... the talks were geared toward future planning and that no new rescue was imminent. ... The discussions include the Treasury ...
Opening Bell: 03.10.09
Dealbreaker —
... In related news, the government has been meeting to plan on what to do next when Citi fucks up (but it's not expecting Citi to fuck up, just planning for it.) Meeting attendees included: ".. the Treasury Department, Office of the Comptroller of the Currency, Federal Reserve and Federal Deposit Insurance Corp." ...
Coming Soon: Citi Bailout V 4.0
Alea —
Barely a week after the third rescue of Citigroup Inc., U.S. officials are examining what fresh steps they might need to take to stabilize the bank if its problems mount, according to people familiar with the matter.
WSJ: U.S. Weighs Further Steps for Citi
Related:
Pandit Says Citigroup Having Best Quarter Since 2007
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Get Long Torches & Pitchforks: Bailouts "Absolutely Asinine," Ritholtz Says
Yahoo! Finance: Tech Ticker —
... about the need for regulatory overhaul while the government is reportedly considering yet another bailout package for Citigroup , one question remains front and center: What to do with ailing banks? Barry Ritholtz, CEO of ...
Citi's Sucker Rally
Moon of Alabama —
... excluding writedowns that have already been disclosed, Pandit said. Now wait a second - writedowns that have already been disclosed do not count? In reality there were probably $19 billion of revenue but the writedowns, disclosed or not, are bigger and I bet the quarter will thereby end with another loss.
The Bloomberg piece created a sucker rally. I believe it is a lot of hot air. A last minute pump and dump scheme. As the Wall Street Journal reports:
Barely a week after the third rescue of Citigroup Inc., U.S. officials ...
Yahoo Tech Ticker: Jon Najarian of OptionMonster.com, Todd Harrison of Minyanville, and Barry Ritholtz All Bullish (for now)
Fund My Mutual Fund —
... about the need for regulatory overhaul while the government is reportedly considering yet another bailout package for Citigroup, one question remains front and center: What to do with ailing banks? ...
Related Content
WSJ Reports Citi and Government Approach New Agreement
economicdiscourse.com 2/27/2009 — The foreign markets and futures have already began to sell off on the news, they must not like this "new plan" and neither do we. Although these are preliminary reports, it looks as if the government's conversion from preferred stock to common could be limited by private investor interest (which ...
Citigroup Begs To Be 40% Nationalized
globaleconomicanalysis.blogspot.com 2/23/2009 — Citigroup is in deep trouble. Its share price is $1.95 and the market is recognizing what I said a year ago: "Citigroup Is Insolvent". Of course it is not just Citigroup that is insolvent, the entire global banking system is insolvent. Nonetheless, ...
Citi on Its Way to Breakup?
nakedcapitalism.com 1/12/2009 — The Wall Street Journal tonight says, " Citigroup Takes First Step Toward Breakup ." But what does that mean, exactly? Or had the Journal gone a bit far with the notion that the bank is doing some way, way overdue housecleaning? The eye-popping bit ...
WSJ Reports Citi and Government Approach New Agreement
economicdiscourse.com 3/2/2009 — The foreign markets and futures have already began to sell off on the news, they must not like this "new plan" and neither do we. Although these are preliminary reports, it looks as if the government's conversion from preferred stock to common could be limited by private investor interest (which ...
New York Lawmakers Urge Geithner not to Cancel Citigroup-Mets Field Deal
economicdiscourse.com 2/12/2009 — When I first heard about this Citigroup - Mets naming rights deal, I knew right away that it would be a complete fiasco. It's really just bad timing, as the media has become very focused on the excess of Wall Street. Also their is currently a growing coalition of lawmakers in Washington that are ...
Citigroup
krugman.blogs.nytimes.com 11/24/2008 — Mark Thoma has the rundown of informed reactions. A bailout was necessary - but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will ...
Tangible Common Equity…
optionarmageddon.ml-implode.com 2/23/2009 —
Treasury may convert its stake in Citi from preferred to common equity. ( WSJ )
Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according ...
Citigroup - Somebody Please Say "Game Over"
informationarbitrage.com 1/14/2009 — From the Wall Street Journal Online : Until recently, Citigroup Chief Executive Vikram Pandit had
repeatedly backed the company's "universal bank" model. But with
directors and executives now bracing for a fourth-quarter operating
loss of at least ...
Credit Risk Rises on Citigroup Breakup Speculation
globaleconomicanalysis.blogspot.com 11/21/2008 — I have been saying for over a year that Citigroup would not survive in one piece. That option is looking increasingly likely as the Citigroup Board Weigh Options . Citigroup Inc.'s board meets today to discuss the bank's options after Chief Executive ...
U.S. to Take Big Citi Stake and Overhaul the Board
online.wsj.com 2/27/2009 — DEBORAH SOLOMON and DAVID ENRICH (See Corrections and Amplifications item below .) Citigroup Inc. and the U.S. are close to an agreement in which the government will substantially increase its stake in the bank and will demand boardroom changes in ...
"All About the Drugs" —
The Big Money 3/10/2009
Merger Monday is back. At least for Big Pharma. Merck announced on Monday it would buy rival Schering-Plough for $41.1 billion in cash and stock, in a deal The New York Times neatly sums up as being "all about the drugs." Such mega-mergers were ...
Park Avenue Marauding Through SoHo! —
The Big Money 3/10/2009
Last week, I wrote that the Republican claim that Obama is fighting a war against the rich was bogus. Over the weekend, I thought better of it. It turns out there is a war on the rich. Only it's not being waged by vicious overlords in ...
CitiCat Sez —
The Big Money 3/10/2009
Recommended reading: "Pandit says Citigroup having best quarter since 2007"-- Bloomberg
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