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Old 03-05-2008, 02:44 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
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Citigroup in January slashed its dividend 41 percent, and has since November raised some $30 billion of capital from investors including Abu Dhabi, Kuwait and Saudi Prince Alwaleed bin Talal.

Investors suspect there will be more credit related write downs - and Citi will need to borrow more money to stay afloat. The question is where will they get the money?
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Old 03-05-2008, 04:29 PM
 
Location: Living in Paradise
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Quote:
Originally Posted by 70Ford View Post
Citigroup in January slashed its dividend 41 percent, and has since November raised some $30 billion of capital from investors including Abu Dhabi, Kuwait and Saudi Prince Alwaleed bin Talal.

Investors suspect there will be more credit related write downs - and Citi will need to borrow more money to stay afloat. The question is where will they get the money?
A possible take over from another financial institution?
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Old 03-05-2008, 04:43 PM
 
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Higher interest rates on their credit cards
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Old 03-05-2008, 07:59 PM
 
Location: Boise, ID
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This is what happens when you offer loans to people who really can't afford them.

And when people walk away from mortgages simply because their house is worth less than they owe on it.

Although, I must say I have had a Citibank credit card for almost 18 years now and I think their customer service has really gone down over that time. At some point that comes back to haunt a business too.
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Old 04-01-2008, 03:46 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
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Citi is now putting its credit card business into a single unit.

Sounds like they're about to sell it off...... to me.
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Old 04-01-2008, 03:58 PM
 
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And yet their stock price rose 7% today. A year from now, after the write downs, they'll still be around. A little sadder, a little wiser, but they'll still be around.
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Old 04-01-2008, 06:22 PM
 
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That stinks. Citigroup also had division called First Collateral Services in CA that did warehouse lines for Correspondent lenders A.K.A. brokers with a line of credit to fund there own loans. More unemployed mortgage personnel in CA equals more people in danger of losing there homes. Crazy.
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