Citibank - Is it a good time to buy?
- Thread starter TENT
- Start date
its a 1.50
u cant really lose
u cant really lose
So by Monday the government is gonna own citibank?
I need the cellphone companies to be bought by the government too.
I need the cellphone companies to be bought by the government too.
There assets are so polluted, there won't be an appreciable gain for at least 7 years.
If the government continues to buy them, the stock gets more depressed because of nationalization fears.
If the government fully nationalizes them, your stock immediately becomes $0.00 as per SEC/Federal Regulations (conflict of interest)
...
With the exception of maybe Goldman Sachs, Morgan Stanley, Suntrust, Chase, and JP Morgan in America ... ALL AMERICAN FINANCIAL STOCKS ARE A FUCKING SHIT HOLE LOSING MONEY PROPOSITION.
If you want to make money in the financials, you have to look at some of the stronger Foreign Banks like Societe Generale, BNP Paribas, RBS etc. etc.
If the government continues to buy them, the stock gets more depressed because of nationalization fears.
If the government fully nationalizes them, your stock immediately becomes $0.00 as per SEC/Federal Regulations (conflict of interest)
...
With the exception of maybe Goldman Sachs, Morgan Stanley, Suntrust, Chase, and JP Morgan in America ... ALL AMERICAN FINANCIAL STOCKS ARE A FUCKING SHIT HOLE LOSING MONEY PROPOSITION.
If you want to make money in the financials, you have to look at some of the stronger Foreign Banks like Societe Generale, BNP Paribas, RBS etc. etc.
You're correct for the most part, however, the investment & commercial banks you just mentioned are heads and toes covered in toxic assets. No financial (especially U.S.) is safe for investors to fiddle with. Citigroup suspended its 1 cent dividend to common shareholders today. 1 CENT. You kidding me? Suntrust has too much involvement in the Commercial boom in the southern states (especially Florida and Georgia) and will probably be decimated as this housing bust escalates.
Invest in Washington Mutual !!!
You're not serious are you?
WAMU just got bought by Chase.
And most of their loans are now being mastered by Deutche Bank.
Your best bet is to invest in an oil well with refining capabilities.
Next, invest in learning how to farm.
If that is still not your cup of tea, take those paper dollars and buy all the gold and silver you can.
If you're worried about securing it, buy some guns, ammo, and training.
It makes no sense taking your hard-earned paper and giving it to some F****ing stranger (e.g. honkey or Jew) who does not give a crap about you.
Heist only the bank was bought, not the holding company (which has a lot of profit making subs). In fact, the bank division was well capitalized and it looks like FDIC engineered its collapse to give its banking assets to JPM-Chase (no bid), who even admitted to negative goodwill in their quarterly statements. Both, JPM and Citibank are up to their eyeballs in CDS. I think there are 54 trillion dollars worth of these out there.
I smell a massive lawsuit coming against the FDIC or a settlement. There's a boatload of shady dealing going on in the financial sector. I mean real shady.
I smell a massive lawsuit coming against the FDIC or a settlement. There's a boatload of shady dealing going on in the financial sector. I mean real shady.
its now $0.97....you lost
Last year was a different universe. No one had peel back all the layers of the onion ... and Citi was hiding some of the stinky ones.
Remember, I always tell people when you buy stock you're not buying into the company so much as you're buying into the Management Team knowing:
(1) What they fuck they're doing.
(2) They know who to make a profit.
(3) They won't allow the company to take obscene risk.
(4) They won't do anything completely stupid.
CHARLOTTE, N.C. – Shares of Citigroup Inc., once the nation's most powerful bank, fell below $1 a share Thursday.
The stock fell to 97 cents in late morning trading, down 16 cents or 14.2 percent from Wednesday.
New York-based Citi has lost more than 85 percent of its value so far this year, and is down more than 95 percent from a year ago as the bank was pummeled by the financial market crisis.
Citigroup's shares will remain on the New York Stock Exchange. Last week, the NYSE relaxed its listing rules to allow stocks that fall under $1 to still be listed and traded on the exchange.
The exchange said the change was warranted given the "current period of unusual market volatility and decline."
Ordinarily, an NYSE-listed company's shares cannot remain below $1 for more than 30 consecutive days. If that happens, the company gets about six months to prove to the NYSE it can boost its stock price.
Citigroup used to be not only the largest bank by assets, but also by market capitalization, which has now been decimated by the stock's decline. At the start of 2007, its market cap was riding high at around $270 billion. But by March 2008, it had fallen below the $100 billion mark. Now, it's at $6.2 billion.
The stock fell to 97 cents in late morning trading, down 16 cents or 14.2 percent from Wednesday.
New York-based Citi has lost more than 85 percent of its value so far this year, and is down more than 95 percent from a year ago as the bank was pummeled by the financial market crisis.
Citigroup's shares will remain on the New York Stock Exchange. Last week, the NYSE relaxed its listing rules to allow stocks that fall under $1 to still be listed and traded on the exchange.
The exchange said the change was warranted given the "current period of unusual market volatility and decline."
Ordinarily, an NYSE-listed company's shares cannot remain below $1 for more than 30 consecutive days. If that happens, the company gets about six months to prove to the NYSE it can boost its stock price.
Citigroup used to be not only the largest bank by assets, but also by market capitalization, which has now been decimated by the stock's decline. At the start of 2007, its market cap was riding high at around $270 billion. But by March 2008, it had fallen below the $100 billion mark. Now, it's at $6.2 billion.
Who would I ask then captain? The motherfuckers who are losing all the money?
C/S
Invest in just about any GOOD green projects. Solar, Wind, Tidal, Etc.
either buy gold or look for potential short sales
GOOD NEWS!!!
Citibank turned a profit the first two months of the year and the rich white wall street boys are happy and they're all buying stock.
Hopefully this eases fears of Obama/Geitner taking over the bank and other nationalization talk.
Is buying all that debt starting to work?
Portfolio full of shit.
Who do you think is going to buy and hold the worst of the TARP mortgages.
You got it, Fannie Mae. You're buying into a company that eats nuclear waste.
Housing Push for Hispanics Spawns Wave of Foreclosures
By SUSAN SCHMIDT and MAURICE TAMMAN
(See Correction & Amplification below)
California Rep. Joe Baca has long pushed legislation he said would "open the doors to the American Dream" for first-time home buyers in his largely Hispanic district. For many of them, those doors have slammed shut, quickly and painfully.
Mortgage lenders flooded Mr. Baca's San Bernardino, Calif., district with loans that often didn't require down payments, solid credit ratings or documentation of employment. Now, many of the Hispanics who became homeowners find themselves mired in the national housing mess. Nearly 9,200 families in his district have lost their homes to foreclosure.
* * * * * * * *
The Congressional Hispanic Caucus created Hogar in 2003 to work with industry and community groups to increase mortgage lending to Latinos.
Hogar's backers included many companies that ran into trouble in mortgage markets: Fannie Mae and Freddie Mac, both now under federal control;
* * * * * * * *
Mortgage lending to Hispanics took off between 2004 and 2007, powered by nonprime loans. The biggest jump occurred in 2005. The 169% increase in nonprime mortgages to Hispanics that year outpaced a 122% gain for blacks, and a 110% increase for whites, according to a Journal analysis of mortgage-industry and federal-housing data. Nonprime mortgages carry high interest rates and are tailored to borrowers with low credit scores or few assets.
Between 2004 and 2007, black borrowers were offered nonprime loans at a slightly higher rate than Hispanics, but the overall number of Hispanic borrowers was much larger. From 2004 to 2005, total nonprime home loans to Hispanics more than tripled to $69 billion from $19 billion, and peaked in 2006 at $73 billion.
http://online.wsj.com/article/SB123111072368352309.html#articleTabs=article
man, you'd be better off buying stock in kellog or us steel! financial stocks ain't gonna do sheit for ya if the govt takes um over
Heist, remember what I posted earlier about Washington Mutual. here's a link to some news that just came out today.
http://www.reuters.com/article/marketsNews/idUSN2153132120090321?rpc=44
http://www.reuters.com/article/marketsNews/idUSN2153132120090321?rpc=44
In 15 days Citi stock went from .97 to $2.62. In 2 weeks you would have more than doubled your money if you got in at that .97. If you brought $10k worth of Citi 2 weeks ago, you would be up over $16k this week...
There is money to be made while these mega-corps stock prices are in reach of the everyman.
Im a beginner, but am about to dive in. There are some cool tools you can use before you put up your own dough. Check out this site: http://www.wallstreetsurvivor.com it lets you virtually trade for free before you put up your real money.
Read the google financial forums. (Make your own choices though.) Use them as a guide. There are real traders, analysts and seasoned vets there that you can learn from.
There is money to be made while these mega-corps stock prices are in reach of the everyman.
Im a beginner, but am about to dive in. There are some cool tools you can use before you put up your own dough. Check out this site: http://www.wallstreetsurvivor.com it lets you virtually trade for free before you put up your real money.
Read the google financial forums. (Make your own choices though.) Use them as a guide. There are real traders, analysts and seasoned vets there that you can learn from.