Citi Faces $6-$10 Billion Write-Off; Prince Is Out

stock_trad3r · Nov 5, 2007

NO one cares about CITI any more. Wallstreet has already discounted it. it's obvious there are going to be some subprime type issues. All further bad news is already priced in.

sobemark · Nov 5, 2007

Quote from stock_trad3r:

NO one cares about CITI any more. Wallstreet has already discounted it. it's obvious there are going to be some subprime type issues. All further bad news is already priced in.

no one cares about anything huh ... losses don't matter .. fundamentals don't matter ..only thing that matters is goog, aapl, rimm, .. and as long as they go up ..all is good and down can breach 15K ??

stock_trad3r · Nov 5, 2007

Quote from sobemark:

no one cares about anything huh ... losses don't matter .. fundamentals don't matter ..only thing that matters is goog, aapl, rimm, .. and as long as they go up ..all is good and down can breach 15K ??

It not just my opinion, it's the whole market. CITI was big deal...for CITI and the financial sector, but wallstreet has already moved on.

Reminds me of the so called 'liquidy crunch' mania. After August 16th wallstreet had already moved on. Bad news was all priced in. The tide had tunred, but many people here were still convinced there was a serious problem.Those who ignored the doomsayers made money.

atticus · Nov 5, 2007

Quote from atticus:

At least 2 lower than its AH print of $39.

Buying XLF here at 31.23.

Arnie · Nov 5, 2007

Citi has to be an attractive target if it gets much lower. Pefect opportunity for a foreign bank or someone like Wachovia. They have over 2 trillion in assets, offer services across the board, just piss poor management.

makloda · Nov 5, 2007

Message from Charles "Chuckie" Prince: ''F*ck ya'll, I got my golden handshake. I'm off to the Bahamas, good luck cleaning up this mess you fools.''

Digs · Nov 5, 2007

Citigroup have $134 Bn of level 3 assets.
Interactive brokers banks with Citigroup, should IB customers get out or IB find another commercial bank ??

stock_trad3r · Nov 5, 2007

So burned out on citi

and so is almost everyone else

Digs · Nov 5, 2007

The more tradition commercial banks, not the investments banks dont hold alot of level 3.

But which ones have decent brokers as clients ?

Spooz Top · Nov 5, 2007

Quote from makloda:

Message from Charles "Chuckie" Prince: ''F*ck ya'll, I got my golden handshake. I'm off to the Bahamas, good luck cleaning up this mess you fools.''

Now that`s funny......& that`s exactly what he`s thinking....along with Stanley O`Neal............get the fuck out of Dodge with some loot before the real hammer drops.

& when it does......i`ll be sure & play Dueling Banjos or the "Deliverence song" for stock Turd on every thread here.