Citigroup facing further big write-downs

[dinoman]

Quote from DeeDeeTwo:

Since pro bond traders are not worried...
It's hard to take the ET peanut gallery seriously:

Bond Yields

C - 7.1%
BAC - 6.8%
ING - 7.1%
LEH - 6.9%
MER - 7.1%
MS - 7.1%
ABN - 6.8%
DB - 6.9%
USB - 6.8%

Zero risk of default in the above group.

For comparison some other yields:

GE - 5.9%
GM - 10.7 %

Go back and look at WorldCom.

 

[Cdntrader]

C cut @ oppenheimer sees .70 vs 2.90 consensus for 2008.

Meredith Whitney strikes again. Sees 30% drop in C shares.

 

[Cdntrader]

Whitney and colleague Kaimon Chung also cut their earnings estimates on large U.S. East Coast banks by an average of 29 percent for 2008 and 13 percent for 2009.

 

[razor99]

i would urge anyone considering a position in C to do so with the utmost vigilence. C is going into the teens in my opinion as further write downs as well as looming credit card losses mount. i daytrade but would never even think of investing in Citi at these levels. expect more pain from the whole sector.