Citigroup May Get Government Rescue

[w¡n9Nµ7 §£@¥€r 123]

[star_dragon 0]

[William33 110]

Seriously?

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Yes, seriously.

Click on the pic. That will take you to the article.

[William33 110]

Yes, seriously.

Click on the pic. That will take you to the article.

Smooth link...I like it....

The news however, is bad. I thought Citicorp was semi-immune to this crisis, given their global footprint and diverse market position.

[w¡n9Nµ7 §£@¥€r 123]

I thought Citicorp was semi-immune to this crisis, given their global footprint and diverse market position.

5-year view. Notice what happened to C in mid-2007. Off a fvckin' cliff.

[star_dragon 0]

Again:

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And here is how C has done over the last 5 yrs relative to the major indices.

[William33 110]

Wow....You have captured a major crisis in action....starting in the 3rd quarter of 2007!

I am shocked that this crisis was not predicted, in an effort to head it off.

[w¡n9Nµ7 §£@¥€r 123]

Wow....You have captured a major crisis in action....starting in the 3rd quarter of 2007!

I am shocked that this crisis was not predicted, in an effort to head it off.

The crisis has been brewing for a long time.

http://www.businessweek.com/bwdaily/dnflas...1210_089250.htm

[William33 110]

Wow....You have captured a major crisis in action....starting in the 3rd quarter of 2007!

I am shocked that this crisis was not predicted, in an effort to head it off.

The crisis has been brewing for a long time.

http://www.businessweek.com/bwdaily/dnflas...1210_089250.htm

I rarely study financial news other than my personal investments, which have been pretty solid overall. This does not include my 401k, which is controlled by others and took a major beating this year.

Back to your point, ####### was everyone doing while these major corporations were sliding downward? Grabbing up profits before the bottom fell out? Seems to me that some analysts would have noted the trend and offered some warnings.

[w¡n9Nµ7 §£@¥€r 123]

There were plenty of warnings abt C.

They even got a new CEO who was supposed to fix the mess.

Clearly, it didn't work.

They are gonna lay off 52,000 people in the next few months. I've heard about 30,000 of them will be in my neck of the woods. I feel bad for the people who work in NJ UI offices, they will be busy.

[William33 110]

There were plenty of warnings abt C.

They even got a new CEO who was supposed to fix the mess.

Clearly, it didn't work.

They are gonna lay off 52,000 people in the next few months. I've heard about 30,000 of them will be in my neck of the woods. I feel bad for the people who work in NJ UI offices, they will be busy.

Sloppy management and lack of foresight for sure. CEO salaries and chutes, should be strictly based on company performance, nothing less.

[mRx 16]

I don't see how they are failing. They were just awarded a MASSIVE contract with the US military to handle all government travel cards. Hell, I just got my government CitiBank card last week.

[William33 110]

I don't see how they are failing. They were just awarded a MASSIVE contract with the US military to handle all government travel cards. Hell, I just got my government CitiBank card last week.

They will continue to plug along, capturing big contracts. Until they bankrupt or get bailed out, that is.

However, to be in this position, they must have invested huge dollars in bad investments like all the others in the tank.