My Post Inspirations/References
Plenty of Citi (C) action today with even more questions as news came out. My items to use:
Citigroup Gets Huge New $38 Billion Bailout, Wiping Out All Of The Taxpayer's "Profits"
Yahoo Message board reaction to said news:
This is SWEEEEEEEET!! Read!
The Rumor:
Citi Price Rumored At $3.15, $20.5 Billion In New Securities, Government To Keep $5 Billion In Common Stake As Below Cost-Basis
Becomes news:
Citi's Secondary Prices Weak, Treasury Holds Back On Dumping Stake To Avoid Flooding The Market
I had a few bones to pick with Calculated Risk today as it seemed he was inconsistent:
Citigroup's "Massive" Tax Break
CR was moved to add:
"Who benefits? The value of the shares the U.S. owns should increase, but only 34% of the share price increase accrues to U.S. taxpayers The other current shareholders receive the rest. So this doesn't seem to make sense ..."
Later concerning the FOMC statement, CR was quick to get behind the FED line about sticking to their exit timelines:
FOMC Statement: No Change
CR adds:
The Fed is also making it clear they intend to stick to their deadlines.He reiterated this point several times in the comments section.
Of course he may have missed the closing section of the FOMC release, which of course Mish did not:
Bernanke Trots Out the Boy Scout Motto
Boy Scout Motto
In case you missed the key paragraph, it has nothing to do with "anticipation", "appears", or "expect" and has everything to do with the Boy Scout Motto, "Be Prepared".
"The Federal Reserve is prepared to modify these plans if necessary to support financial stability and economic growth."
I suggest you forget about expectations and plan on Bernanke acting in accordance with the Boy Scout Motto.
I also was going to include a great Gold article as I am apt to do:
Paper Currencies - Trampoline Jumping
Great section:
"Gold is a great hedge against government insanity and instability and we are in a secular cycle of government insanity and instability right now. Gold is not a simple asset class (as the ignorant commentators shouting "barbarous relic" would have you believe), it is not a consistent inflation or deflation hedge, and it is not just an anti-Dollar play."I like it.
Have at it and I will be back tomorrow.
Have a good night.
More Citi news all the time, now the US cannot sell any of their shares for 90 days and can only do so gradually. Just who the hell is in charge here? Oh that's right, not the government. Confident much??
ReplyDeleteHi !.
ReplyDeleteYou re, I guess , probably very interested to know how one can manage to receive high yields .
There is no need to invest much at first. You may commense earning with as small sum of money as 20-100 dollars.
AimTrust is what you need
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with offices around the world.
Do you want to become an affluent person?
That`s your chance That`s what you really need!
I`m happy and lucky, I started to get income with the help of this company,
and I invite you to do the same. It`s all about how to select a proper companion utilizes your funds in a right way - that`s the AimTrust!.
I make 2G daily, and what I started with was a funny sum of 500 bucks!
It`s easy to start , just click this link http://udyguberu.digitalzones.com/erozugu.html
and lucky you`re! Let`s take this option together to get rid of nastiness of the life
Citi and in short order Wells Fargo.
ReplyDeleteAnyway, I ripped into CR for the same thing. Pure posturing.
THere is no cold turkey for this addict.
Tax breaks = stealth bailouts. I said this in Sept 2008. Who is surprised?
R.I.P. Chris Henry. What a shame.
ReplyDeletegyc, are you still being harrassed by cockroaches? I want to take the comment moderator off on my blog but I can't have every person's address in Colorado with my same last name pasted all over my comment section LOL.
Dear friends
ReplyDeleteWe do not agree with this year BRIT awards 2010 decision.
Please go to see our little survey
http://micropoll.com/t/KDqOnZBCWt
Lady Gaga can not be better than Nina Hagen
Poll supported by BRIT awards 2010 sponsor femmestyle
[url=http://www.femmestyle.ch/nosecorrection.html]nasenkorrektur[/url]
PRINCE HARRY WISHES HAPPY BIRTHDAY TO THE BRIT AWARDS
With a special birthday message from Prince Harry for the 30th Anniversary of the BRIT Awards