Comments on: Citigroup – $309.7B http://bankimplode.com/blog/2009/05/07/citigroup/ Wed, 23 Sep 2009 21:43:37 -0400 http://wordpress.org/?v=2.8.1 hourly 1 By: David Hofer http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-1054 David Hofer Thu, 05 Jun 2008 17:01:12 +0000 http://bankimplode.com/blog/?p=68#comment-1054 I think Citi took the radioactive securities off their balance sheet and stuffed them into Falcon to avoid writing them off. How else could you lose 50-80% of the money in 3-4 months. Stevie Wonder couldn't lose that much in that short period of time. As you have written, Citi has no way to raise more capital or write of any large amounts of money. They had no choice to commit fraud and deceive people. If they lost the money fair and square, just show me how you did it, with all cusip numbers and trades. If it was all fair, investors can accept that loss if it wasn't fraudulent. The Fed has an 850 Billion dollar balance sheet, so it is very possible that Citi can go broke. People must accept the fact that the world's formerly largest bank can be broke or insolvent. They have not told the truth here. Somebody needs to get the truth. Maybe the fired or resigned manager will reveal what really happened here. Sad part is Citi probably moved him somewhere where he can't be found. I have called Charlie Gaspirino and Meredith Whitney about this. Also have spoken with David Enrich and several lawyers suing them about Falcon. Everyone seems leery of going after them. The truth is, they are crooks. Thanks for your report, it comes closest to the truth. I think Citi took the radioactive securities off their balance sheet and stuffed them into Falcon to avoid writing them off. How else could you lose 50-80% of the money in 3-4 months. Stevie Wonder couldn’t lose that much in that short period of time. As you have written, Citi has no way to raise more capital or write of any large amounts of money. They had no choice to commit fraud and deceive people. If they lost the money fair and square, just show me how you did it, with all cusip numbers and trades. If it was all fair, investors can accept that loss if it wasn’t fraudulent.
The Fed has an 850 Billion dollar balance sheet, so it is very possible that Citi can go broke. People must accept the fact that the world’s formerly largest bank can be broke or insolvent.
They have not told the truth here. Somebody needs to get the truth. Maybe the fired or resigned manager will reveal what really happened here. Sad part is Citi probably moved him somewhere where he can’t be found.
I have called Charlie Gaspirino and Meredith Whitney about this. Also have spoken with David Enrich and several lawyers suing them about Falcon. Everyone seems leery of going after them. The truth is, they are crooks.
Thanks for your report, it comes closest to the truth.

]]> By: David Hofer http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-1053 David Hofer Thu, 05 Jun 2008 16:54:30 +0000 http://bankimplode.com/blog/?p=68#comment-1053 I think Citi took the radioactive securities off their balance sheet and stuffed them into Falcon to avoid writing them off. How else could you lose 50-80% of the money in 3-4 months. Stevie Wonder couldn't lose that much in that short period of time. As you have written, Citi has no way to raise more capital or write of any large amounts of money. They had no choice to commit fraud and deceive people. If they lost the money fair and square, just show me how you did it, with all cusip numbers and trades. If it was all fair, investors can accept that loss if it wasn't fraudulent. The Fed has an 850 Billion dollar balance sheet, so it is very possible that Citi can go broke. People must accept the fact that the world's formerly largest bank can be broke or insolvent. They have not told the truth here. Somebody needs to get the truth. Maybe the fired or resigned manager will reveal what really happened here. Sad part is Citi probably moved him somewhere where he can't be found. I have called Chalie Gaspirino and Meredith Whitney about this. Also have spoken with David Enrich and several lawyers suing them about Falcon. Everyone seems leery of going after them. The truth is, they are crooks. Thanks for your report, it comes closest to the truth. I think Citi took the radioactive securities off their balance sheet and stuffed them into Falcon to avoid writing them off. How else could you lose 50-80% of the money in 3-4 months. Stevie Wonder couldn’t lose that much in that short period of time. As you have written, Citi has no way to raise more capital or write of any large amounts of money. They had no choice to commit fraud and deceive people. If they lost the money fair and square, just show me how you did it, with all cusip numbers and trades. If it was all fair, investors can accept that loss if it wasn’t fraudulent.
The Fed has an 850 Billion dollar balance sheet, so it is very possible that Citi can go broke. People must accept the fact that the world’s formerly largest bank can be broke or insolvent.
They have not told the truth here. Somebody needs to get the truth. Maybe the fired or resigned manager will reveal what really happened here. Sad part is Citi probably moved him somewhere where he can’t be found.
I have called Chalie Gaspirino and Meredith Whitney about this. Also have spoken with David Enrich and several lawyers suing them about Falcon. Everyone seems leery of going after them. The truth is, they are crooks.
Thanks for your report, it comes closest to the truth.

]]> By: Bank-Implode! » Banks On The Hook For CIT http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-232 Bank-Implode! » Banks On The Hook For CIT Thu, 20 Mar 2008 19:54:12 +0000 http://bankimplode.com/blog/?p=68#comment-232 [...] Citigroup (as if there was any doubt) [...] [...] Citigroup (as if there was any doubt) [...]

]]> By: Aaron http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-231 Aaron Thu, 20 Mar 2008 16:52:45 +0000 http://bankimplode.com/blog/?p=68#comment-231 Mortgageman: It looks like you're confusing the total aggregate writedown for the $45B "reduction" number. I'll edit the comments to make the distinction more clear. And if Citi somehow turns that "reduction" into a net gain, let me know. Maybe they also know how to turn lead into gold. So there IS a loss involved in this process. Mortgageman:

It looks like you’re confusing the total aggregate writedown for the $45B “reduction” number.

I’ll edit the comments to make the distinction more clear.

And if Citi somehow turns that “reduction” into a net gain, let me know. Maybe they also know how to turn lead into gold. So there IS a loss involved in this process.

]]> By: mortgageman http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-202 mortgageman Fri, 14 Mar 2008 02:48:41 +0000 http://bankimplode.com/blog/?p=68#comment-202 Citi is planning on reducing its mortgage exposure by $45B by letting the portfolio run off through prepayments. Somehow, your calculation turns this number into a loss. It's like a little kid posted this analysis pointing a finger at someone and saying "dodo head". That's about how smart it appears. What's going on? Citi is planning on reducing its mortgage exposure by $45B by letting the portfolio run off through prepayments. Somehow, your calculation turns this number into a loss. It’s like a little kid posted this analysis pointing a finger at someone and saying “dodo head”. That’s about how smart it appears. What’s going on?

]]> By: Bank-Implode! » Lehman Brothers - $3.4B http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-181 Bank-Implode! » Lehman Brothers - $3.4B Sun, 02 Mar 2008 04:05:03 +0000 http://bankimplode.com/blog/?p=68#comment-181 [...] for “off-balance-sheet vehicle” (and hence, liability). We talk more about them over at our Citigroup entry.   Goldman’s exposure is discussed [...] [...] for “off-balance-sheet vehicle” (and hence, liability). We talk more about them over at our Citigroup entry.   Goldman’s exposure is discussed [...]

]]> By: Bank-Implode! » Goldman Sachs - $2.4B http://bankimplode.com/blog/2009/05/07/citigroup/comment-page-1/#comment-180 Bank-Implode! » Goldman Sachs - $2.4B Sun, 02 Mar 2008 03:14:56 +0000 http://bankimplode.com/blog/?p=68#comment-180 [...] VIEs are yet another alphabet-soup three-letter-acronym that simply stands for “off-balance-sheet vehicle” (and hence, liability).   We talk more about them over at our Citigroup entry. [...] [...] VIEs are yet another alphabet-soup three-letter-acronym that simply stands for “off-balance-sheet vehicle” (and hence, liability).   We talk more about them over at our Citigroup entry. [...]

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