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Old 11-24-2008, 12:04 AM
 
3,460 posts, read 5,368,085 times
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Nov. 23 (Bloomberg) -- The U.S. government agreed to protect $306 billion of loans and securities on Citigroup Inc.‘s books against losses, as it seeks to shore up investor confidence in the bank.
Citigroup will, as a fee for the guarantee, provide preferred shares to the Treasury and Federal Deposit Insurance Corp., the regulators said in a statement. The government will also inject $20 billion into the bank from the Treasury’s $700 billion Troubled Asset Relief Program.


Bloomberg.com: Worldwide
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Old 11-24-2008, 12:14 AM
 
Location: Sputnik Planitia
7,299 posts, read 10,335,683 times
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so this stock is going to shoot up tommorow?
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Old 11-24-2008, 12:34 AM
 
5,697 posts, read 9,438,392 times
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They will lay off thousands of workers in the US, get a nice bailout and will hire 1,000 people in the Philippines. If you are an American taxpayer, you should be asking yourself, "WTF is going on?" We should be marching and protesting against this thievery.

http://www.marketwatch.com/news/stor...-9F17DC8903A2}

Last edited by davidt1; 11-24-2008 at 12:52 AM..
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Old 11-24-2008, 12:44 AM
 
Location: Keller, TX
5,674 posts, read 5,811,310 times
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Quote:
Originally Posted by k374 View Post
so this stock is going to shoot up tommorow?
Hard to say. I know I wish I had bought a few December calls now.

DOW and S&P futures have dropped some since the announcement (but are still mildly positive for the open).
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Old 11-24-2008, 12:50 AM
 
3,460 posts, read 5,368,085 times
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Quote:
Originally Posted by davidt1 View Post
They will lay off thousands of workers in the US, get a nice bailout and will hire 1,000 people in the Philippines. If you are an American taxpayer, you should be asking yourself, "WTF is going on?" We should be marching and protesting against this thievery.
They just got the mother of all bailouts, and they're outsourcing 1000 jobs in the process.

Why in the **** isn't the Phillipine government coughing up some of this money?
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Old 11-24-2008, 01:05 AM
 
5,697 posts, read 9,438,392 times
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Quote:
Originally Posted by sterlinggirl View Post
They just got the mother of all bailouts, and they're outsourcing 1000 jobs in the process.

Why in the **** isn't the Phillipine government coughing up some of this money?
We are basically being raped by the Federal Reserve, giving taxpayers' money to greedy and bad people at will with the full backing of bought and paid for politicians. How can American people, the most free people in the world, be the most helpless also?
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Old 11-24-2008, 01:13 AM
 
5,744 posts, read 10,752,268 times
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Quote:
Originally Posted by sterlinggirl View Post
They just got the mother of all bailouts, and they're outsourcing 1000 jobs in the process.

Why in the **** isn't the Phillipine government coughing up some of this money?
Hey WE ARE ALL now partial owners with the preferred stock part of the deal.

So SCREW the US workers. Is that not the US Corporate Capitalist Way?

Are you some sort of Red Pinko? (Pick your best Commie fashion color, there)

Real question I want to know . . . . Did the CEO of Citi fly the private corporate jet to DC to make the beg deal, like the Low-Brow Detroit Automotive Idiots, or was this just some online / dial-up webpage thingy the Treasury is running now -- Click Here to Fund My Bank sort of thing?
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Old 11-24-2008, 01:34 AM
 
5,697 posts, read 9,438,392 times
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I hate to say this, but when that politician said that the money the government spends on bailout is not taxpayers' money, he is correct. Sure you gave or will give the government the money, but it's not yours. If it's your money, you should be able to have a say on how it's spent.

What's really disgusting about the Citigroup situation is the bastards at the top who destroyed their company get to keep their jobs while the workers they fired not only see their jobs shipped overseas but they too will pay for the bailout.
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Old 11-24-2008, 02:08 AM
 
706 posts, read 1,231,811 times
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Vikrim Pandit just told us on Friday he didn't need any money. Lying thieving crooks and scumbags just looted the treasury again. We just sit back and watch.
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Old 11-24-2008, 04:35 AM
 
12,869 posts, read 14,073,845 times
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Quote:
Originally Posted by davidt1 View Post
I hate to say this, but when that politician said that the money the government spends on bailout is not taxpayers' money, he is correct. Sure you gave or will give the government the money, but it's not yours. If it's your money, you should be able to have a say on how it's spent.

What's really disgusting about the Citigroup situation is the bastards at the top who destroyed their company get to keep their jobs while the workers they fired not only see their jobs shipped overseas but they too will pay for the bailout.
the one thing americans can do is boycott these companies being bailed out. don't buy citibank, don't invest in citibank, and pull your money out of citibank. we don't reward bad behavior! isn't that something we learned as children? if americans would do this consistently the bailouts would stop as soon as the government realized that they were not being rewarded for bailouts.
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