tag:blogger.com,1999:blog-6492542366661862113.post4331547980530296404..comments2023-10-31T01:32:09.169-07:00Comments on The Housing Time Bomb: Citigroup: $100 Billion Bailout?Jeffhttp://www.blogger.com/profile/04450070920047311928noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-6492542366661862113.post-38785167355728513242008-11-23T21:38:00.000-08:002008-11-23T21:38:00.000-08:00AnonUnbelieveable isn't it?I saw that earlier. As ...Anon<BR/><BR/>Unbelieveable isn't it?<BR/><BR/>I saw that earlier. As far as I am concerned the homebuilders can all dribe right off a cliff. They created this mess.<BR/><BR/>I guarantee they never see a dime. Taxpayers would have the government's head if they bailed out the very people who pushed them into foreclosures and BK.<BR/><BR/>This is what happens when you cross the line of moral hazard. Everyone wants their piece of the bailout pie.<BR/><BR/>This is all going to end very badly.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-21382119930481559062008-11-23T21:31:00.000-08:002008-11-23T21:31:00.000-08:00The bailout flu has now spread to homebuilders. ht...The bailout flu has now spread to homebuilders. <BR/><BR/>http://online.wsj.com/article/SB122748520112251743.html<BR/><BR/>Unbelievable and sickening!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-28169273382402103102008-11-23T21:14:00.000-08:002008-11-23T21:14:00.000-08:00Boom...there it is folks.$300 billion bailout of C...Boom...there it is folks.<BR/><BR/>$300 billion bailout of Citibank. Its official the world has gone mad.<BR/><BR/>Every bank is America is no going to want this deal. What a mess!<BR/><BR/>We may see a bounce tomorrow! My guess is the market might not like this by the end of the day. Thats a lot of money and smells of desperation.<BR/><BR/>I guess the words "Moral Hazard" have been forgotten in WAshington.<BR/><BR/>Hold on tight tomorrow. It could be a wild ride!:<BR/> <BR/><BR/>"WASHINGTON – The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup Inc. by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books, according to people familiar with details of the plan.<BR/><BR/>Treasury has agreed to inject an additional $20 billion in capital into Citigroup under terms of the deal hashed out between the bank, the Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corp. Treasury officials will charge a higher interest rate for the capital injection -- 8% for the first few years -- than it has charged to dozens of other banks now borrowing money under the government's the $700 billion rescue package approved by Congress last month.<BR/><BR/>In addition to the capital, Citigroup will have an extremely unusual arrangement in which the government agrees to backstop a roughly $300 billion pool of its assets, containing mortgage-backed securities among other things. Citigroup must absorb the first $37 billion to $40 billion in losses from these assets. If losses extend beyond that level, Treasury will absorb the next $5 billion in losses, followed by the FDIC taking on the next $10 billion in losses. Any losses on these assets beyond that level would be taken by the Fed."<BR/><BR/><BR/>http://online.wsj.com/article/SB122747680752551447.html?mod=testModJeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-36665121657592014112008-11-23T19:08:00.000-08:002008-11-23T19:08:00.000-08:00InterestingNo confirmation from Washington on CNBC...Interesting<BR/><BR/>No confirmation from Washington on CNBC's Gasparino's report.<BR/><BR/>I guess we will see if they get it done by the time the market opens.<BR/><BR/>Tomorrow will be very interesting.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-34514501644693737822008-11-23T19:05:00.000-08:002008-11-23T19:05:00.000-08:00I thought they forgot one or two zeros. What a jok...I thought they forgot one or two zeros. What a joke! Just a pure waste of money! Give that money to GM and they can survive - for the next six months. LOLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-62732285378955590142008-11-23T18:55:00.000-08:002008-11-23T18:55:00.000-08:00CNBC reporting a $10-20 billion capital injection ...CNBC reporting a $10-20 billion capital injection into Citi by the Feds.<BR/><BR/>$10-20 billion on a $2 trillion balance sheet.<BR/><BR/>Pass the buck.<BR/><BR/>Kick the can down the road! This should hold them over for a week or too. <BR/><BR/>They just got $25 billion from the TARP a few weeks ago.<BR/><BR/>What a mess. Futures are flat and didn't react to the news. Hmmmm...Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-51419556218139080132008-11-23T18:00:00.000-08:002008-11-23T18:00:00.000-08:00anonGreat article. I love Meredith. She is the b...anon<BR/><BR/>Great article. I love Meredith. She is the best and has been all over Citi since this started.<BR/><BR/>She called the Citi dividend cut before anyone else.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-7082242531250591422008-11-23T17:58:00.000-08:002008-11-23T17:58:00.000-08:00JDBeen watching CNBCYou are right on. The concern...JD<BR/><BR/>Been watching CNBC<BR/><BR/>You are right on. The concern the Fed has is if they take on Citi's bad assets that every other bank will want the same deal.<BR/><BR/>They are in a real bind here. My guess is they end up doing a capital injection which does nothing but slow down the bleeding and kick the can down the road.<BR/><BR/>What a messJeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-8352610053085321682008-11-23T17:39:00.000-08:002008-11-23T17:39:00.000-08:00Meri-Death taking Citi apart:PANDIT NEEDS TO MOVE ...Meri-Death taking Citi apart:<BR/><BR/><A HREF="http://www.nypost.com/seven/11232008/business/pandit_needs_to_move_his_assets_140294.htm" REL="nofollow">PANDIT NEEDS TO MOVE HIS ASSETS</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-68522726891694483812008-11-23T17:14:00.000-08:002008-11-23T17:14:00.000-08:00they still gotta bail out bank of america soon.they still gotta bail out bank of america soon.johndanielshttps://www.blogger.com/profile/12826656236555940567noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-12522504682714990862008-11-23T16:22:00.000-08:002008-11-23T16:22:00.000-08:00WoWHang on to your hats. This one might go down t...WoW<BR/><BR/>Hang on to your hats. This one might go down to the wire. CNBC has a special report at 9PM.<BR/><BR/>I will be updating any developments here. This is getting very interesting.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-85535425061940798962008-11-23T16:05:00.000-08:002008-11-23T16:05:00.000-08:00Jeff, you have a new friend in getting scared shit...Jeff, you have a new friend in getting scared shitless: the government!!! LOL<BR/><BR/><I>Citigroup: Government Now Said to Have Cold Feet</I><BR/><A>http://www.cnbc.com/id/27878049</A>Anonymousnoreply@blogger.com