DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 Looks like Citi is now one of the Fed's Fab Four. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 How dangerous is this market? Not a single one of the 3 and 5 day cycle indicators I use foreshadowed the massive gap down we're going to get this morning. They were all solidly bullish at the close Friday. Now, since the premarket indications do not break shport, may this is a buying opportunity for a scalp. Problem is in this market we are at the absolute mercy of the newsflow, and can only guess what the market's reaction will be to the developments. Link to comment Share on other sites More sharing options...
cwd Posted September 29, 2008 Report Share Posted September 29, 2008 which bank is UFB? 693530[/snapback] Check the comma. Link to comment Share on other sites More sharing options...
cwd Posted September 29, 2008 Report Share Posted September 29, 2008 Looks like Citi is now one of the Fed's Fab Four. 693532[/snapback] Steve LIESman just anounced the CLUB of FIVE. JPM, C, BAC, MS, and GS. It looks like he has been reading M2M. He didn't mention WFC. A word to the wise.: Link to comment Share on other sites More sharing options...
cwd Posted September 29, 2008 Report Share Posted September 29, 2008 It looks like the FDIC is now a major stockholder in Citi Corpe. The FDIC has entered into a loss sharing arrangement on a pre-identified pool of loans. Under the agreement, Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC will absorb losses beyond that. Citigroup has granted the FDIC $12 billion in preferred stock and warrants to compensate the FDIC for bearing this risk. http://calculatedrisk.blogspot.com/ Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 It looks like the FDIC is now a major stockholder in Citi Corpe. The FDIC has entered into a loss sharing arrangement on a pre-identified pool of loans. Under the agreement, Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC will absorb losses beyond that. Citigroup has granted the FDIC $12 billion in preferred stock and warrants to compensate the FDIC for bearing this risk. http://calculatedrisk.blogspot.com/ 693536[/snapback] As I read the details on this in the major media reports I was left with the guess that we, the taxpayers, are left on the hook for net of about $50 billion of losses, and that takes into account the warrants and preferred. The Treasury will be raising more cash this week. Regardless of what the US Cankerous does on the official bailout legislation, it's already happening, one bank at a time, sans legislative approval or overshite. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 Keep your eye on the Treasury offerings at 11 AM. Should be another huge CMB to go along with the 4 week announcement. Link to comment Share on other sites More sharing options...
hokahay Posted September 29, 2008 Report Share Posted September 29, 2008 which bank is UFB? 693530[/snapback] Same one that is bringing you the Structured Housing Investment Trust. Link to comment Share on other sites More sharing options...
joe3pack Posted September 29, 2008 Report Share Posted September 29, 2008 EEV & FXP experiencing bonherrs. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 spx 3 day cycle projection 1180. 5 hr cycle projection 1175. Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 qqqq 3 day cycle projection 39.30 Link to comment Share on other sites More sharing options...
DrStool Posted September 29, 2008 Report Share Posted September 29, 2008 hui 3 day cycle projection 316. Link to comment Share on other sites More sharing options...
Sudaca Posted September 29, 2008 Report Share Posted September 29, 2008 Bring them back! Link to comment Share on other sites More sharing options...
joe3pack Posted September 29, 2008 Report Share Posted September 29, 2008 Federal Undersight Commission for Ko-prosperity Link to comment Share on other sites More sharing options...
hokahay Posted September 29, 2008 Report Share Posted September 29, 2008 As I read the details on this in the major media reports I was left with the guess that we, the taxpayers, are left on the hook for net of about $50 billion of losses, and that takes into account the warrants and preferred. The Treasury will be raising more cash this week. Regardless of what the US Cankerous does on the official bailout legislation, it's already happening, one bank at a time, sans legislative approval or overshite. 693537[/snapback] Prince DillWeed needs to be made whole too. Link to comment Share on other sites More sharing options...
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