[KevO]

oh dearie me

$this->bbcode_second_pass_quote('', 'U')S banking giant Citigroup has reported a $9.83bn (£5bn) net loss for the last three months of 2007.

Chief executive Vikram Pandit said the loss had been caused by a $18.1bn exposure to bad mortgage debt and was "clearly unacceptable".

The company, the largest banking group in the US, said revenues during the fourth quarter fell 70% from a year earlier to $7.2bn.

[cipi604]

"unsinkable" they say!

[aahala]

Certainly this is not good news and it's very large numbers.

However, Citicorp still had net income for the entire year,
about 3.6 billion. This amount may be small compared to
past years and the size of the bank, but how long does it
take to go under if you make a profit?

[VinceG]

We can say bye-bye now to high oil prices for a very long time

[KevO]

$this->bbcode_second_pass_quote('VinceG', 'W')e can say bye-bye now to high oil prices for a very long time

[seahorse2]

$this->bbcode_second_pass_quote('cipi604', '"')unsinkable" they say!

[thor]

$this->bbcode_second_pass_quote('VinceG', 'W')e can say bye-bye now to high oil prices for a very long time

[gnm]

Yeah - it will do the usual "oil drops $2 on signs of slowing economy" until a day or two later when the traders realize that nobody is buying less and China/India are taking advantage of the drop to buy even more! Then back up we go!



-G

[ChefBoyardee]

$this->bbcode_second_pass_quote('gnm', 'Y')eah - it will do the usual "oil drops $2 on signs of slowing economy" until a day or two later when the traders realize that nobody is buying less and China/India are taking advantage of the drop to buy even more! Then back up we go!



-G

[ChefBoyardee]

$this->bbcode_second_pass_quote('gnm', 'Y')eah - it will do the usual "oil drops $2 on signs of slowing economy" until a day or two later when the traders realize that nobody is buying less and China/India are taking advantage of the drop to buy even more! Then back up we go!



-G

[Starvid]

$this->bbcode_second_pass_quote('seahorse2', '')$this->bbcode_second_pass_quote('cipi604', '"')unsinkable" they say!

[Cid_Yama]

<i>There will be a crash for them undoubtedly.</i>

Bull cookies. You're talkin' out the wrong end.

The world is no longer dependent on the US, neither our consumerism nor our dollar. The US is toast. The rest of the world could arguably be better off without us.

(Spare me your urgent need to spout "the US is the greatest nation in the world" or some such similar drival.)

Citibank just gave you the <i>lowest</i> loss figure they could believably come up with at this time. Trust me, it's double if not a <i>lot</i> more. By May most of the cards will be on the table.

[gnm]

$this->bbcode_second_pass_quote('Cid_Yama', '&')lt;i>There will be a crash for them undoubtedly.</i>

Bull cookies. You're talkin' out the wrong end.

The world is no longer dependent on the US, neither our consumerism nor our dollar. The US is toast. The rest of the world could arguably be better off without us.

[Cid_Yama]

If there was an out of control unstable individual waving a gun about, what WOULD law enforcement's probable reaction be? Apply THAT to nations. The world will not allow itself to be taken nuclear hostage. It would be best handled INTERNALLY before it got to that point.

[pup55]

$this->bbcode_second_pass_quote('', 'C')itibank just gave you the lowest loss figure they could believably come up with at this time.

[Cid_Yama]

<i>it suddenly occurred to me that every financial statement they have is suspect at this point.
they are no longer backed up by any known amount of underlying assets.</i>

Exactly, <i>on the money</i>, as the saying goes. Might I suggest <b>Money as Debt</b> the best (and simplest) explanation of fractional banking.

http://cid-yama.livejournal.com/91263.html