citadel and the fed

[covered_call]

Citadel Denies Collapse Rumors
October 24, 2008

Citadel Investment Group moved quickly to squelch rumors on Wall Street that the giant hedge fund was in serious trouble.

“Categorically false,” a spokeswoman for the Chicago firm told the Wall Street blog Dealbreaker. “Citadel continues to invest and operate business as usual across the globe. The firm’s liquidity remains strong with more than 30% of investment capital held in cash.”

According to the rumors, both the Federal Reserve and U.K. Financial Services Authority were in Citadel’s offices today, discussing how to handle the collapse of the $20 billion alternative investments giant. The Citadel spokeswoman also denied that the firm was seeking access to the Fed’s discount window.

http://www.finalternatives.com/node/5867

 

[mcheema]

thanks for the link

 

[JamesVU2000]

ha. I still think there finished

 

[377OHMS]

Quote from makloda:

Remember how Paulson was saying they "won't bail out hedge funds"? I read an article the other day this might have been directed at Citadel's Griffin.

BURN BABY BURN!

Where will the Enron trading crew wind up next? New York or back to Houston?

Jeez, one day its catered lunch on 33 with the global equities boys and then the next day its Wilbur's Barbeque on a paper plate in Houston. What a bitch.

If there is any justice in the universe...

 

[krazykarl]

Word is Cit is currently planning to liquidate; they're a few ticks away from imploding, which is why the Fed is there right now.

 

[JamesVU2000]

told ya.

 

[RedDuke]

Where there is smoke, there is fire, but let's hope that this all is BS. if they go down and liquidate, it is going to be very nasty.

 

[athlonmank8]

Quote from RedDuke:

Where there is smoke, there is fire, but let's hope that this all is BS. if they go down and liquidate, it is going to be very nasty.

Someone's been watching a little too much CNBC

 

[vv111y]

http://dealbreaker.com/2008/10/live-blogging-the-citadel-call.php

 

[RedDuke]

Quote from athlonmank8:

Someone's been watching a little too much CNBC

Have not watched it for a while. Actually planning to watch FastMoney tonight. Sometimes what is being said is funnier than sit comms. In other times, just interesting to see other people opinions.