You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Citi Faces $6-$10 Billion Write-Off; Prince Is Out
- Thread starter Cdntrader
- Start date
ok, so they wrote down assets. could those assets at the lower value be sold in the market without another write down?
i highly doubt this is the end of the write downs.
i highly doubt this is the end of the write downs.
6-10 b is just he first step....beleive me this will end badly. gold @800 is a huge tell. ok now stocktrad3r will say its no big deal, dow @ 15k by 11/8?
$6-8 Billion writedown?
Is that before or after they pay him the big buckos for job-well-done?
Is that before or after they pay him the big buckos for job-well-done?
At least 2 lower than its AH print of $39.
Citigroup first trades up 5.8 percent in Tokyo
Sun Nov 4, 2007 7:31pm EST
TOKYO, Nov 5 (Reuters) - Citigroup Inc (8710.T: Quote, Profile, Research) (C.N: Quote, Profile, Research) first traded in Tokyo at 4,580 yen, up 5.8 percent from its tentative starting price of 4,330 yen, on the day of its Tokyo stock market debut.
The Monday listing came on the heels of the resignation of Charles Prince as chairman and chief executive of Citigroup and an announcement that the bank may suffer an $11 billion write-down for subprime losses. The tentative starting price for Tokyo trading was set based on Citigroup's closing price on Friday in New York.
http://www.reuters.com/article/marketsNews/idUKTKU00289920071105?rpc=44
the us banks are virtually bankrupt.
the investment banks are worse hit.
some may survive but only dueto mergers and federal intervention.
they do not have any assets.
same as monopoly.
no assets.
game over.
the investment banks are worse hit.
some may survive but only dueto mergers and federal intervention.
they do not have any assets.
same as monopoly.
no assets.
game over.
I was once wanted to work on these so called investment banks because I thought that this will be the sector that can profit on both the bull run and the bear run.
How wrong am I... Most of this bank now facing the risk of solvency (even bankruptcy).
But on Citi case, I believe we will see a technical rebound and the stock will trade higher for today only to see people shorting/selling their position again.
Just look at MER, after a big drop, they booked a big rebound after their CEO ousted only to experience another drop.
How wrong am I... Most of this bank now facing the risk of solvency (even bankruptcy).
But on Citi case, I believe we will see a technical rebound and the stock will trade higher for today only to see people shorting/selling their position again.
Just look at MER, after a big drop, they booked a big rebound after their CEO ousted only to experience another drop.
Quote from Tauvros:
Citigroup first trades up 5.8 percent in Tokyo
Sun Nov 4, 2007 7:31pm EST
TOKYO, Nov 5 (Reuters) - Citigroup Inc (8710.T: Quote, Profile, Research) (C.N: Quote, Profile, Research) first traded in Tokyo at 4,580 yen, up 5.8 percent from its tentative starting price of 4,330 yen, on the day of its Tokyo stock market debut.
The Monday listing came on the heels of the resignation of Charles Prince as chairman and chief executive of Citigroup and an announcement that the bank may suffer an $11 billion write-down for subprime losses. The tentative starting price for Tokyo trading was set based on Citigroup's closing price on Friday in New York.
http://www.reuters.com/article/marketsNews/idUKTKU00289920071105?rpc=44
$36.03 pre-market. $39.03 close in the post-market ECN trade on Friday.