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The Big C, Citigroup's Bailout
plastic
post Posted: Mar 29 2020, 10:05 AM
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If the corporates are making a run on the banks already, just wait until the word hits the streets!
It couldn't happen to a nicer bunch of assholes.

https://www.zerohedge.com/markets/revolver-...-down-revolvers

QUOTE
"Revolver Run": Banks Suffer Record $200BN In Outflows As Frenzied Companies Draw Down Revolvers




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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 27 2020, 07:10 AM
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In Reply To: wolverine's post @ Nov 17 2016, 08:56 PM

Where's my old mate gone to?



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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 27 2020, 07:08 AM
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Slowly slowly, catch a monkey.
Couldn't happen to a nicer bunch of assholes.

https://www.zerohedge.com/markets/bizarre-r...e-banks-trouble

QUOTE
Bizarre Rise In Libor Prompts Questions About One Or More Banks In Trouble
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With 3M USD Libor rising for the 10th straight session as the benchmark fixed higher by 10.763bp on Thursday, the persistent increases in the London interbank offered rate "may suggest a widening gulf between those who have cheap access to funding and those who do not" - in other words, one or more banks may be scrambling for liquidity, and worse, someone is aware of this.




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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 19 2020, 06:24 PM
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He's still a patriotic American in front of the cameras...putting on a show.



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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 19 2020, 05:49 PM
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In Reply To: mullokintyre's post @ Mar 19 2020, 04:03 PM

Has anything changed?
He's still a patriotic American in front of the cameras. But this time his supporting crew is the US military.



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What did Uncle Mel do to us?
 
mullokintyre
post Posted: Mar 19 2020, 04:03 PM
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In Reply To: plastic's post @ Mar 19 2020, 03:29 PM

Trump was still just a reality TV host back in the GFC.
Mick



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sent from my Olivetti Typewriter.
 

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plastic
post Posted: Mar 19 2020, 03:29 PM
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If Citigroup was majority owned by House of Said at the time of the GFC, that means the Arabs were the beneficiaries of the bail out. Especially if they were short at the time.

You could say, arguably, there was an assault on US Treasury.

How does Trump n Co. feel about that do you think?



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What did Uncle Mel do to us?
 
mullokintyre
post Posted: Mar 19 2020, 07:42 AM
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Citigroup was sitting at 80 bucks in late february this year.
At the close last night it was down to 36.27 after "recovering" from an intraday low of 32.
Its has lost half its value since Feb.

From Wall street on parade

QUOTE
Now flash forward to yesterday. Citigroup was the worst performing bank of all of the Wall Street behemoths, losing 19.30 percent in one trading day. On September 15, 2008, the day that all of Wall Street was in crisis mode, Lehman Brothers filed bankruptcy, Merrill Lynch had to be taken over by Bank of America, and AIG was one day away from a government takeover, Citigroup’s stock only lost 15.14 percent.

And yet no matter what pundit you see on TV, all that one hears is that Wall Street banks have plenty of capital. These two things cannot be simultaneously true: the Fed cannot have had to be pumping hundreds of billions of dollars each week into Wall Street banks and their trading arms for the past six months (long before there was any coronavirus outbreak anywhere in the world) if these banks actually did have adequate capital.

The chart above shows that the major Wall Street “universal” banks, which combine a toxic trading culture, tens of trillions of dollars of dark derivatives along with owning federally-insured banks that are backstopped by the taxpayer, are once again trading as a herd just as they did in the 2008 financial crash. Citigroup, as of yesterday’s close, has lost 48 percent of its market value since February 14.

After the Federal Reserve allowed Citigroup to blow itself up with derivatives in 2008, eventually trading as a penny stock in 2009, the same Federal Reserve has continued to allow Citigroup to hold astronomical sums in over-the-counter (dark curtain) derivatives today. As of September 30, 2019, according to the latest data available from the Office of the Comptroller of the Currency, Citigroup’s federally insured bank has $49 trillion notional (face amount) in derivatives, which is $16.8 trillion more than when it blew itself up in the last quarter of 2008.

And Citigroup is not alone. JPMorgan Chase, Goldman Sachs, Morgan Stanley and Bank of America also hold insane levels of derivative exposure. Their likely insurance company counterparties, as outed by the Office of Financial Research, have also been bleeding massive amounts of common equity capital this year. And Deutsche Bank, Germany’s largest bank, is another counterparty that has been bleeding capital and setting all time lows.

This is likely the key reason that the Federal Reserve has not used its Section 13(3) emergency lending authority and created a commercial paper bailout program and other such programs. Under the Dodd-Frank financial reform legislation of 2010, the Fed can only use those emergency lending authorities if it briefs the Senate Banking Committee and House Financial Services Committee, including providing the names of the banks getting the money. The Fed is also prevented from bailing out individual banks as it did in 2008 and can provide only broad-based lending programs.

Fed Chairman Jerome Powell has repeatedly testified to Congress that the Wall Street banks it regulates have plenty of liquidity and capital. The Fed has been approving all of the stress tests for these banks and allowing them to spend tens of billions of dollars each year doing stock buybacks and paying increased dividends to their shareholders. Imagine the public and political backlash if it now turns out that the Fed has allowed these banks to become the same money-losing derivative casinos that they were in 2008 and they need trillions of dollars more in another bailout.


Mick



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mullokintyre
post Posted: Mar 17 2020, 08:45 AM
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So Plastic, have you read " Bull by the Horns", by former head of the FDIC , Sheila Blair??
Its all about the corruption at Citi Bank.
A damn good read, and scary if even only half of it is true.
Mick



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plastic
post Posted: Mar 11 2020, 07:46 PM
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Q says, "God wins".

https://qmap.pub/

Does he mean good triumphs over evil? Or does he mean, Allah loses? Perhaps, he's just making a generic statement about the pagans in the house getting smoked out. Who really knows?

But the House of Saud were the largest shareholders once in Citi. Another BCCI might be about to come down upon us in the guise of C. If it does, it couldn't happen to a nicer bunch of assholes.



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What did Uncle Mel do to us?
 
 


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