Comments on: FT: Citi to Split Investment and Commercial Bank

By: Jason Tyler

Jason Tyler — Tue, 20 Jan 2009 21:18:00 +0000

The financial world is changing so fast and it is scary to watch this unfold. I have been doing business with Primerica, which has been under the Citi umbrella for some time. They have always in my opinion, been doing right by their clients. My rep is always sending me tips on how to save money.

http://news.primerica.com/

By: MC Shalom

MC Shalom — Sat, 17 Jan 2009 20:38:00 +0000

Chairman Ben S. Bernanke, We Are Opting Out of Credit.

All of Our Economic Problems Find They Root in the Existence of Credit.

Out of the $5,000,000,000,000 given out to the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE, The People, got?

A Credit Free, Free Market Economy Is Possible.

Both Dynamic on the Short Run & Stable on the Long Run.

I Propose, Hence, to Lead for You an Exit Out of Credit:

Let me outline for you my proposed strategy:

✔ Preserve Your Belongings.

✔ The Property Title: Opt Out of Credit.

✔ The Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: - .

✔ Asset Transfer: The Right Grant Operation.

✔ A Specific Application of Employment Interest and Money.
[A Tract Intended For my Fellows Economists].

If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless?

Since credit based currencies are managed by setting interest rates, on which all control has been lost, are they managed anymore?

We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.

In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.

The other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.

It will be either awfully deadly or dramatically long.

A price none of us can afford to pay.

“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”

- Henry A. Kissinger

Let me provide you with a link to my press release for my open letter to you:

Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!

I am, Mr Chairman, Yours Sincerely,

Shalom P. Hamou AKA 'MC Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640

By: williambanzai7

williambanzai7 — Wed, 14 Jan 2009 05:05:00 +0000

CITIGROUP BITES THE DUST
(Another One Bites the Dust, Queen)
WilliamBanzai7

Rubin, Pandit, Weil and Prince walk warily down the street,
With their brims pulled way down low
Ain't no sound but the sound of their slippery conniving feet,
Fed machine guns ready to go
Are you ready, Are you ready for this
Are you hanging on the edge of your seat
Out of the doorway the bust up bullets rip
To the sound of the bailout beat
Chorus

Citigroup bites the dust
Citigroup bites the dust
Another universal bank gone, and another one gone
Citigroup bites the dust
Hey, their gonna get you too
Citigroup bites the dust

How do you think we're going to get along,
Without you, when you're gone
You took us for everything that we had,
And kicked us in the financial groin

Are you happy, are you satisfied
How long can you stand the market heat
Out of the doorway the bust up bullets rip
To the sound of the bailout beat
Chorus

Citigroup bites the dust
Citigroup bites the dust
Citigroup bites the dust
Citigroup bites the dust
There are plenty of ways you can screw a man
And bring his net worth to the ground
You can cheat him
You can fleece him
You can feed him toxic financial garbage and leave him
When its time to mark em down
But we're ready, yes we're ready for you
We're standing on our own two feet
Out of the doorway the bust up bullets rip
Repeating the sound of the bailout beat

By: dd

dd — Wed, 14 Jan 2009 02:16:00 +0000

cds on cdos/cmos and private issue mbs can not be exchange traded. The contracts are on very specific tranches, designed to support the SIV debt ratings, and have no reserves. An exchange would by definition require reserves. That wipes out all the “profit” and limits the leveraging ability. An exchange would also provide pricing transparency that would also end the charade.

By: pkk

pkk — Wed, 14 Jan 2009 02:04:00 +0000

all these credit derivatives that have so tightly interwoven the financial system is why everyone is to big to fail. you almost wish that they could just void all those cds contracts in one fell swoop, but of course that would have massive unintended consequences. we were promised an cds exchange by the new year and mum is the word on it. I think cme is rethinking the idea because they determined that there is a fair chance they’d be wiped out if they provided a market for cds’s. moreover, if they actually put up an exchange for cds and let traders see the massive bets on each institution it’d probably freak everyone out ;o

By: Anonymous

Anonymous — Wed, 14 Jan 2009 01:22:00 +0000

Congress is on the move to shovel the remaining $350 Billion to the banksters without going through Congressional hearings or debate.

Give me a break. Please contact your Congressman and ask them to vote no tomorrow. Not without the light of day shining on this POS.

By: Anonymous

Anonymous — Wed, 14 Jan 2009 00:33:00 +0000

Looks like Panit will be tossed out the airlock to help seal the hull breach.

By: wintermute

wintermute — Tue, 13 Jan 2009 23:04:00 +0000

Consider the unprecedented global market volatility starting Q4 last year. Commodities, Treasuries, currencies, equities, real estate all over the place - 70%, 80% even 90% moves common.

Any bank which has *tens* of $trillions of derivatives on its books simply HAS to have stretched valuation models to breaking point and beyond. Some of it HAS to be marked to fantasy.

The leverage of impossible-to-value derivatives to unimpaired capital must be 100:1

By: Anonymous

Anonymous — Tue, 13 Jan 2009 22:35:00 +0000

Where there’s smoke and mirrors, there’s fire… in a madhouse.

By: mmckinl

mmckinl — Tue, 13 Jan 2009 22:26:00 +0000

Who’s Next : JPM or BAC ?

“
Perhaps none more so, however, than J.P. Morgan. While its $77.2 trillion derivative exposure at the end of 2007 was down from the $91.7 trillion it held as of Sept. 30, 95.2% of which is traded over the counter, it’s a safe bet that J.P. Morgan would have suffered if Bear Stearns couldn’t fulfill its contractual obligations. After J.P. Morgan, the U.S. commercial banks with the largest derivatives exposure are Citibank, with $34 trillion, and Bank of America, with $32 trillion, according to the Office of the Comptroller of the Currency.”

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080324/REG/110730692/1005/TOC

As the economy gets worse these banks go further under on their derivative bets, trillions worth …

Where’s the bank Holiday ?