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PeakOil is You

PeakOil is You

Somebody BIG (READ Citibank) is going down...

Discussions about the economic and financial ramifications of PEAK OIL

Re: Somebody BIG is going down...

Unread postby PrairieMule » Thu 24 Jan 2008, 21:51:23

$this->bbcode_second_pass_quote('greenworm', '')$this->bbcode_second_pass_quote('', 'T')hat BoA deal to buy Country Slide?


That's pretty funny.

I have a weird hunch that will be what is going down tomorrow. This deal reaks of creative accounting or gov't intervention, which is nothing more than creative accounting. :lol:



Speaking of Countrywide, there are rumors of an additional 30,000 more layoffs at LENDRON for 2008-2009.

2008 is a great year to be a Doomer.
If you give a man a fish you will have kept him from hunger for a day. If you teach a man to fish he will sit in a boat and drink beer all day.
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Re: Somebody BIG (READ Citibank) is going down...

Unread postby evilgenius » Fri 25 Jan 2008, 07:59:30

So, all of that real estate goes to the banks that hold the loans, on the loans, on the loans after all of the derivative pile is sorted out. What will the banks do? They will sell to the sovereign wealth funds and anybody else that can give them dollars. They will sell and the US government will offer promises to encourage the foreign money to invest. They will offer what they have no intention of giving, of course. And the middle class won't own a pot to piss in. The land wealth of the country will wind up in some kind of quasi-governmental cooperative holding entity that offers all kinds of benefits to all considered but doesn't come through on those offers except if you are a rich American.
When it comes down to it, the people will always shout, "Free Barabbas." They love Barabbas. He's one of them. He has the same dreams. He does what they wish they could do. That other guy is more removed, more inscrutable. He makes them think. "Crucify him."
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Re: Somebody BIG (READ Citibank) is going down...

Unread postby Cloud9 » Fri 25 Jan 2008, 09:03:44

At the beginning of the 19th century, The U.S. government was fush with Indian land. They came up with a scheme to make it easier for the small farmer to buy land. Speculators grabbed the ball ran with it and caused a collapse. Farmers lost their land. Speculators went broke and the land reverted back to the government. New twist to an old game.
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Re: Somebody BIG (READ Citibank) is going down...

Unread postby greenworm » Fri 25 Jan 2008, 13:05:05

$this->bbcode_second_pass_quote('', 'J')im Cramer doesn't think much of either the Falcons or Citigroup's management:

I think Citibank screwed up. They should take the hit. Don't bail out those clowns. And Citibank — they are clowns.




Cramer called them clowns, how weird.




prophecy


This is a $7 stock with troubles.

$this->bbcode_second_pass_quote('', 'N')EW YORK (Reuters) - Citigroup Inc awarded Chief Executive Vikram Pandit $26.7 million of shares and 3 million stock options, six weeks after he took over the largest U.S. bank, and a week after reporting a record $9.83 billion quarterly loss.


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