U.S. to Take Big Citi Stake and Overhaul the Board [Nationalized!]

The Wall Street Journal ^ | 2009-02-27

[Gabrial]

Dow just dropped below 7100 - 7099

[Petronski]

I swore Citi off in the 90’s because I didn’t think they were competent to operate a manure farm. And here they are, sh!tting all over the country.

;OD

Well played.

[ken21]

si. we’re all comrades now.

some where else on this forum i read comrade soros’ opine that

nationalization of the banks was necessary to get them to loan money.

[BJClinton]

Didn’t 0bama sue Citi and force it to make bad loans in the first place?

[potlatch]

I slept late, not caught up on the news, etc. Having trouble understanding your pretty red and gold text.

As the cat graphics would say - “splain it 2 me”. Your mind works in mysterious ways, lol.

[mojitojoe]

check out fascism, not communism-
_______________
His family- Communists, attended the little *red Church* in Seattle
Frank Marshal Davis- his mentor- Communist
1. A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.
2. The Marxist-Leninist version of Communist doctrine that advocates the overthrow of capitalism by the revolution of the proletariat.

[Camel Joe]

Good reading and puts it all in perspective. I'm guessing Helicopter Ben really does know what he's doing. He just isn't telling us...

[Camel Joe]

Oops, I was also referring to this; http://mises.org/story/1935

[wmfights]

But there was also an economic policy component of fascism, known in Europe during the 1920s and ‘30s as “corporatism,” that was an essential ingredient of economic totalitarianism as practiced by Mussolini and Hitler.

Thank you for posting the article. It will be required reading for my sons.

[wmfights]

The anti-Christ is suppose to have Italian blood, but Obomas birth name really IS Italian - Barry Soetoro.

You might want to read "Antichrist Islam's awaited Messiah" by Joel Richardson.

You might change some of your eschatological views.

[CRBDeuce]

When the government sets the board of directors, that’s nationalized folks. Maybe they will put in a Fred Raines or a Jamie Gorelick type to solve the problems. They did such a fine job with Freddie and Fannie.

Raines and Gorelick helped destroy Fannie Mae...Rahm Emmanuel helped destroy Freddie Mac.(of course they couldn't have done it without ACORN, Carter's CRA, and the useful fools at the rating agencies).

[CRBDeuce]

re: Websters...
American College Dictionary of the English Language offers these definitions of ‘communism’:
1. ...social organization based on the holding of all property in common, with actual ownership being ascribed to the state; 2. ...social organization in which all economic activity is conducted by a totalitarian state dominated by a single, self-perpetuating political party.

Looks like 0 is going for a double whammy! Gotta wonder if he got the idea from the dictionary.

[CRBDeuce]

Split off the investment portion (Smith Barney etc.) and sell it off to someone like Charles Schwab.

...already gone....to Morgan Stanley as a JV (for now).

[Danae]

Citi holds my Mortgage, does this mean I can stop paying now too?

/sigh

[az_gila]

When the government sets the board of directors, that’s nationalized folks.

---

The director list is here...

http://investing.businessweek.com/research/stocks/people/board.asp?symbol=C

Some of note

Lisa Caputo - NBC and MSNBC analyst ** was press secy. to several (D) congress folks ** Al Gore's media advisor 1992 ** and lots more **

Douglas L. Peterson

Advisory board for La Raza...

Ajay Banga

Board of Trustees - National Urban League

Shengman Zhang

..was VP of World Bank ** ex-PRC Ministry of Finance as Deputy director and Vice Secretary from 1994 to 1995

James D. Wolfensohn

ex-World bank ** Director of the Rockefeller Foundation and of the Population Council

Anne M. Mulcahy

Director Washington Post ** director Fannie Mae

Judith H. Rodin Ph.D.

President - Rockefeller Foundation ** President Clinton's Committee of Advisors on Science and Technology

C. Michael Armstrong

Chairman and the Chief Executive Officer at Hughes Electronics - of rocket secrets to the Chinese under Clinton fame...

Andrew Liveris

Director of the United States Climate Action Partnership

Enough left wing folks to keep going, but I bet the Chevron, Alcoa and Dow Chemical associated directors will go...:^)

[rednek]

Geez, I miss Bill Clinton..........red

[rednek]

"Split off the investment portion (Smith Barney etc.) and sell it off to someone like Charles Schwab"

Its now Morgan Stanley Smith Barney.

red

[April Lexington]

Hayek covers this in “The Road to Serfdom.” A great read in these troubling times.

[Newbomb Turk]

Great ! I have never missed a mortgage payment with CitiBank but I am thinking of not paying them for 6 months or so and asking for a drop in my total loan value and a reduction in my interest rate.

Heck if everyone that bought too big a house or didn’t plan their lives right and lives on credit can do it why can’t a guy who works 3 jobs and does everything right do it too?

Atlas is shrugging at my house for sure.

[Canticle_of_Deborah]

Again, Obama tells you what he is allegedly not going to do right before he does it.