Is Citi going bankrupt

Is Citi going bankrupt

  • yes

    Votes: 19 42.2%

  • no

    Votes: 26 57.8%
  • Total voters
    45
Doubt it but no one really knows. I might buy some as an option if it goes much lower. It will get force-merged with someone in all likelihood, and hopefully at $5.00+ stock price so you get a premium at these levels.
 
Beware. It's not just C. Something is happening we are not aware of yet. BAC is being destroyed. JPM fell 5 points today and the market is flat (down20%). KEY super regionals fell 30+% today. WFC has fallen from 30 to 20 in a few trading days. It has nothing to do with assets. Don't grab on to false hopes. SKF is bumping against the 300$ level relentlessly. Steve, look up the premiums on SKF calls out of the money. I checked yesterday and it was a 35$ premium for 50 out of the money call. Beware.

I bought BAC at 15 and 10.xx today, I'm in the same game.
 
Sad but CITI is done. Institutional / Hedge funds with caps on how low a stock they hold can go HAVE to start unloading if they went under $5. That is creating a tremendous sell pressure. Better get themselves a few more princes.

Think about it another way. They received $25B in the bailout and there market cap is - $25 billion. Anyone else smell another WaMu?
 
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Honestly they were right in the middle of this from the get-go. Their mortgage and CDS exposure was no better then the other mighty who have fallen. They tried to "keep silent" and never trial ballooned anything to the street. Now you all the sudden have a huge reversal today in "rumors" that they may sell, sell BS, emergency meetings, etc.

All these months saying everything was fine. Only a fool would believe these guys. Even the most jr. analyst knows they were just as exposed as the others that have gone to zero around them.

Sad how many lives will/are being financially ruined by such ineptitude.
 
matteni said:
Honestly they were right in the middle of this from the get-go. Their mortgage and CDS exposure was no better then the other mighty who have fallen. They tried to "keep silent" and never trial ballooned anything to the street. Now you all the sudden have a huge reversal today in "rumors" that they may sell, sell BS, emergency meetings, etc.

All these months saying everything was fine. Only a fool would believe these guys. Even the most jr. analyst knows they were just as exposed as the others that have gone to zero around them.

Sad how many lives will/are being financially ruined by such ineptitude.
Click to expand...

I started my career at Citi. What was once a proud, well respected institution has now become a sad story for future case studies. I was lucky enough to catch the tail end of the John Reed years when it meant something in financial circles to work for Citi.

Unfortunately, I experienced the eventual hand off to Sandy Weill and the influence that he and the rest of the scumbags he brought to the table. The writing was on the wall years ago. IMO, Sandy and the rest of his cohorts are nothing short of criminally liable for their decisions.

I left Citi just less than five years ago and thank God that I was lucky enough to read the signs and make a well timed move. Citi's bonus plan for most AVP and VP's meant that a significant portion of your bonus was going right into Citi stock and I can't tell you how many of my former co-workers are just left decimated. To make matters worse, the root core of these problems has absolutely nothing to do with their business.

I can't tell you how many 10, 15, and 20 year Citi employees I know who spent a career building what was once a well respected institution and are now in shambles due to the horrible business practices of a few pieces of the Citi empire and ultimately, the men and women at the top.

I'll get off my soap box now but it really is upsetting.
 
I hope not, I just bought 500 shares at 4.7:biggrin: and 500 of HIG at 5.5:biggrin::biggrin: and 200 of ge at 13.1:eek: 2000 of AIG at 1.6:cool:

Figure aig, hig and c are at their low and will skyrocket, or they will just crater. Nothing ventured, nothing gained.:wink:
 
Citi's balance sheet (without the "unknowns") is stronger now than it was a year ago. With the latest 25 billion of TARP funds it's market cap is even less than that. Unfortunately perception sometimes forces a new reality. We're talking about my "parent company" here. I can tell you with certainty that I know nothing, but because of things that are spiraling out of control a change in the "structure" is a large probability. Now, if a B of A type purchase of M Lynch were to occur, where they pay me big bucks to just stay where I am, that would certainly help make up for all the $$$ lost on my C stock!!!
 
I don't think they are. The military/govt just switched from BofA to Citi for their govt travel cards. Cards are effective Nov 30.
 
Zuerst said:
excuse my ignorance... but if citi goes, do I not have to pay them my credit card balance anymore? :biggrin:
Click to expand...

Even if you die you are not excused from your debt so - yes - you will owe every penny regardless of if they go bankrupt or not.
 
I read that Citi is so tied in, that if it failed, the entire world would be set back 200 years. Every currency in the world would fail, every bank in the world would fail, etc, etc.
 
I backed the truck up on 5 strike calls on Thursday and Friday last week. I am holding a freaking pile of calls here and it looks like I am going to make a massive truckload of cash.
 
steveny said:
I backed the truck up on 5 strike calls on Thursday and Friday last week. I am holding a freaking pile of calls here and it looks like I am going to make a massive truckload of cash.
Click to expand...

Congtats. Please send money.:wink:
 
Someone I was on the phone with today said he thinks America, Canada and Mexico will merge and the currency will too. HE also said since Canada does not have the right to have weapons all the guns will be taken away from Americans. He went as far to say he watched a video of US troop being trained for this very exercise.
 

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