U.S. Agrees to Citigroup Bailout (Guarantees $300 billion in toxic assets)

Wall Street Journal ^

[calcowgirl]

The Money, Banking, and Financial Markets Ping List.

Short name: BOHICA list.

[politicket]

Well 5 billion is 5 billion.. but it isn’t 300 billion. People need to understand what comes out of their pocket versus what comes out of private companies pocket.

The Fed is on the hook for up to $245 billion. Where do you think that money will come from?

The FDIC is on the hook for $10 billion. Where do you think that money will come from?

The U.S. Treasury is on the hook for $5 billion. Where do you think that money will come from?

We are going to end up in Great Depression II.

[downwdims]

Depends on how much the Fed takes on.

If they are using the last of TARP for the 350 bill guarantee then it’s all down the rabbit hole. 350 to recapitalize banks, 150 to back up AIG/European Banks, 350 to back up Citi, plus a little to grease the congressional wheels and BAM! There’s the last round in the current clip.

[rabscuttle385]

Short name: BOHICA list.

Pretty much.

[ConservativeCompendium.net]

Actually, it's $306 billion.

how easy people throw away 6 billion dollars.

Hells bells, I want the govt to guarantee 90% of MY debt!!! :(

[downwdims]

They do. Just to your lenders. They write your stuff off and take a tax break :)

[ConservativeCompendium.net]

Nope. according to the document Earnest posted above, only 5 billion comes from Tarp. The rest comes from FDIC or the Fed will print more worthless dollars for it.

[downwdims]

Treasury=Fed Fed=Treasury

Read up on how Central Banks work. Thanks for playing!

[Gondring]

Not to mention the laws that assigned penalties if they didn’t.

[PressurePoint]

• 1 bottle of the finest champagne - $700
• 1 night with a hooker - $2,000
• Trip to Las Vegas - $12,000
• Vacation house in the Hamptons - $18,000,000
• Bailout from the government – Priceless

There's some things money can't buy.
For everything else, there's Citibank Mastercard.

[rabscuttle385]

1 night with a hooker - $2,000

I would think that it costs more than $2,000 to rent a U.S. Senator. /sarc

[downwdims]

*For everything else there’s the Federal Reserve

[bruinbirdman]

It seems C's assets (good, bad, or otherwise) of $3.1T are equal to about 3/4 the GNP of Japan.

The world needs Uncle Sam to do something about Citi.

yitbos

[SAJ]

BTW, the Citi Dec 5 call option, expiring 12/19, closed at 0.90 bid Friday. Do the math. Citi @ 3.77...a straight buy-write yields about 20% **EX** commission in 29 days.

Now that you know C isn't going belly-up, what's not to like?

[Hillarys Gate Cult]

Without giving up to much I may have access to some insiders in the next few days. I want to see if they're LMAO s much as I am. I can only loosely quote Lazlo from the movie “Real Genius” when he said “ I didn't make the rules.”

[spokeshave]

Just cancel Saturday and Sunday...everyone work seven days a week ...get paid for five...at least they won’t have weekends to coble together these bail out deals.

[giotto]

The short sellers are going to kill them, and rightfully so.

Why would anyone short C at this point? It's already down over 90% from its high. I see no reason why the stock shouldn't rise sharply tomorrow. I wish I'd bought it at 3.

[SeafoodGumbo]

I woke up one morning and my beloved country had become socialist.

[steve86]

The short sellers are going to kill them, and rightfully so.

I think it's just plain sellers at this point. GMTHO sellers. You probably wouldn't find many shares to short anyway.

[Deo volente]

Get ready to work until you’re 80 years old or until you drop, whichever comes first.

The old retirement nest egg concept is obsolete. Welcome to the glorious new world order.