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What are all those over paid bankers and investors going to do? Not only is the employment going to get decimated, but the jobs aren't going to pay as much as once you remove all the leverage you remove the high profits.
citibank touched the saudis for a capital hit but with the price of oil tanking the princes wouldn't play. there will be a meeting this weekend between citibank and the treasury.
What are all those over paid bankers and investors going to do? Not only is the employment going to get decimated, but the jobs aren't going to pay as much as once you remove all the leverage you remove the high profits.
We have too many golf courses. Convert them into fields and they can pick tomatoes and live in field-side shacks, owned by the Chinese, it's less risky than destroying value through the financing of inefficient housing occupied by American deadbeats.
They can use their mathematical skills to count tomatoes.
With the sharp stock-market decline for Citigroup rapidly becoming a full-blown crisis of confidence, the company’s executives on Friday entered into talks with federal officials about how to stabilize the struggling financial giant. In a series of tense meetings and telephone calls, the executives and officials weighed several options, including whether to replace Citigroup’s chief executive, Vikram S. Pandit, or sell all or part of the company. Citigroup Shares Keep Sinking - BusinessWeek
citibank touched the saudis for a capital hit but with the price of oil tanking the princes wouldn't play. there will be a meeting this weekend between citibank and the treasury.
That's very interesting Florida, what happens when The Peoples Republic of China does a similar thing to the U.S.
BTW, you are my hero.
Has anyone else noticed that these death watches always take place on a weekend? I guess that's to allow ample time for lots of posturing and intrigue on CNBC about whether the Fed, other companies, etc. are going to have an emergency closed door meeting.
"Vikram S. Pandit, center, the chief executive of Citigroup, set up a companywide phone call to reassure anxious employees. "
I love how CEOs do this type of stuff. Wachovia's CEO did the same thing. He told everyone the company is fine and I think he even went on the Cramer show and said that. Of course a week later the company was bought out.
Last edited by sheenie2000; 11-22-2008 at 10:14 AM..
Reason: left out a word
If we see Cramer saying that Citi is going to be ok, we'll know it's the end.
Quote:
Originally Posted by sheenie2000
"Vikram S. Pandit, center, the chief executive of Citigroup, set up a companywide phone call to reassure anxious employees. "
I love how CEOs do this type of stuff. Wachovia's CEO did the same thing. He told everyone the company is fine and I think even went on the Cramer show and said that. Of course a week later the company was bought out.
If we see Cramer saying that Citi is going to be ok, we'll know it's the end.
Actually the CEO came on the show and said it himself.
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