citibank bailout

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TweetBWAHAHAHAHAHAHAHAHAHAA!!!!!!!!!!!!









LET THEM FILE CHAPTER11!!

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BWAHAHAHAHAHAHAHAHAHAA!!!!!!!!!!!!









LET THEM FILE CHAPTER11!!

i agree!!! taxpayers shouldnt have to pay for their mismanagement...giving credit cards to every swinging dic on the planet

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i agree!!! taxpayers shouldnt have to pay for their mismanagement...giving credit cards to every swinging dic on the planet

yea!!! how do we know this is gonna be enough money anyway and they wont be back at the table asking for seconds?

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yea!!! how do we know this is gonna be enough money anyway and they wont be back at the table asking for seconds?

well..i certainly hope they got rid of their private jets!!!

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well..i certainly hope they got rid of their private jets!!!

besides...the japanese make better bankers anyways

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TweetLET THEM EAT CAKE!!!!!!

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Tweethow come other banks can make money?

JPMorgan Chase

It's not that the bank has been managing its business perfectly during the financial crisis; the company admits it made a mistake when it increased its mortgage lending in California in 2007 in an effort to take advantage of competitors' problems.

It's just that JPMorgan Chase's mistakes have been so much smaller and are supported by a much stronger balance sheet. For example, it looks like the charge-offs on its $95 billion home-equity portfolio will peak at about $700 million per quarter. That's about a 3% annual rate. No bank ever likes to take a $700 million charge, but it's surely better to be talking about millions with an "m" rather than billions with a "b."
Video on MSN Money



Jubak's Journal: Rough ending to 2008
It's time to write off the rest of 2008, says Jim Jubak. Banks are cutting back on their loans to companies, and without that capital, businesses won't be able to fund operations.

And unlike many of its competitors, JPMorgan Chase doesn't have any need to raise new capital. With a Tier 1 capital ratio of 8.4%, the bank has one of the strongest balance sheets in the sector. (A 6% ratio is the minimum to be considered well-capitalized by regulators.) It's that strength that let the bank pick up investment bank Bear Stearns for a song in a deal brokered by the Federal Reserve. That deal moved the bank's investment banking business into new markets.

The bank hasn't ignored its retail side either. The 2007 grab for market share in the most distressed mortgage markets may have increased charge-offs for bad debt, but it increased the bank's market share as well. Net revenue at the mortgage banking unit climbed 46% in the second quarter of 2008 from the second quarter of 2007, and net income climbed 138%.
What's ahead? The bank will use its balance-sheet muscle to pick up the businesses it finds most attractive around the world. On July 25, the bank began talks with National Australia Bank (NABZY, news, msgs) and Banco Santander (STD, news, msgs) to buy and break up deeply troubled United Kingdom mortgage lender HBOS (HBOOY, news, msgs). Right now, JPMorgan Chase can sit back and see what gems the crisis might put into play. Nice position to be in.

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LET THEM EAT CAKE!!!!!!

Now your talkin! This company doesn't even need the money. I got to admit, this is no givaway. Preffered stock is being issued to cover the loan with an 8% yield. If the common stock reaches $10.60 a share, common shareholders are diluted by issuing additional common shares and the government gets paid back by purchasing back the preffered stock.

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Now your talkin! This company doesn't even need the money. I got to admit, this is no givaway. Preffered stock is being issued to cover the loan with an 8% yield. If the common stock reaches $10.60 a share, common shareholders are diluted by issuing additional common shares and the government gets paid back by purchasing back the preffered stock.

oh...kinda like a loan

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Tweetbig wigs just keep getting richer!!

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big wigs just keep getting richer!!

are their ceo's taking a paycut?

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are their ceo's taking a paycut?

GREED!!! thats what this is all about

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Tweetare they asking the saudi prince that owns over 4% of citibank for any money?

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Tweetc'mon fg!! you gotta be WAAAY stronger against this!! where's the outcring for their demise? where's the anger at? are we just gonna sit here and take this doling out of OUR hard earned money??!! do they have a clear biz plan? where's it gonna end???!! aaarrrrgggghhhh!!!!!!

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Tweetlol...i thaught you'd like that fe.