shares in citigroup fell to $5 today.
- how low do you think it's likely to go?
- do you think it would be allowed to go bankrupt, remain intact, or be purchased?
- if it remains intact, how long do you reckon shares will fester at $10 or less?
saudi money is upping its ante as we speak.
Originally posted by: daddybunchie HOT XXX BROKER FAIL PORN lol
Originally posted by: kck shares in citigroup fell to $5 today.
- how low do you think it's likely to go?
my comment in Thad's "Ideas to help bolster the economy" thread might have fit here too... I truly can't believe how much money these recent losses of the markets represents... and yet, in comparasin to the noise we've heard about raising taxes on the wealthy, things are oh so very quiet
apparently, its easier for folks to swallow losing half their life savings, than it is to consider paying a bit [more] toward taxes and the common good
as I implied when saying we could have taken a portion of that money to prevent much of what is to come—without anyone [really] noticing...
unfortunately, as positive as I would like to be, I am inclined to think we've only seen the beginning. when some of these people who've been fortunate enough to have had money to invest start making as much noise about their losses as they have over paying their taxes these last eight years, we'll know we are closer to seeing an end.
Here's some consolation for you, Walter: If things go on like this for another few quarters, there won't be any rich people left.
Pretty low. From MeFi:
Another secret of the banking world: Large banks fueled growth by stashing their clients' money overseas. They offer businesses and wealthy clients sweep accounts that stash money in the Cayman Islands and get around rules banning interest on checking accounts. They screwed clients and enriched themselves with these sweep accounts. Citigroup got into this game in a big way. Now it's teetering on the edge of collapse. And the vast majority of its deposits -- half a trillion dollars -- are held outside the United States. Trouble is the FDIC doesn't insure overseas deposits. http://www.metafilter.com/76769/Is-your-money-safe
all these posts are informative, thank you. but i'm just looking for specifics or, more accurately, specific speculation. it's a given they're motherfuckers and it's a given the world would be a nicer place if people were nicer.
today it closed at 3.7 or so in spite of the blip of a market rebound so perhaps they are among the sickest of the sick. there's more talk of selling it or divvying it up. i'm just trying to figure out if i have an opportunity to make some money back from them by buying shares dirt cheap and figuring it will rebound or if that would just be another chunk of change down a sieve.
i'm also a complete rube when it comes to the stock market.
if the company is purchased is there a standard method for assigning wealth to shares and/or shareholders?
Thinking you can outsmart the market is pretty dumb.
i figured. i would just do it if i could afford to lose anything. i can't so i probably won't, but the notion of a bit of revenge is attractive.
Originally posted by: kck shares in citigroup fell to $5 today.
- how low do you think it's likely to go?
- do you think it would be allowed to go bankrupt, remain intact, or be purchased?
- if it remains intact, how long do you reckon shares will fester at $10 or less?
saudi money is upping its ante as we speak.
Although there are a lot of bargains on the market.. i'd stay the **** away from citi.
Originally posted by: creepylurker Although there are a lot of bargains on the market.. i'd stay the **** away from citi.
i wish i followed that advice a few years ago.
Originally posted by: kck [quote]Originally posted by: creepylurker Although there are a lot of bargains on the market.. i'd stay the **** away from citi.
i wish i followed that advice a few years ago. [/quote]
For the long term (10 to 20 years) and even mid term (5 years) i think some of the stronger banks, Morgan and Goldman, and other beaten stocks are great buys right now. But from what I have heard about citi.. from some people that looked at their books.. run forest run.
That being said if you have money to blow and like gambling.. things like citi and GM could be a fun roll of the dice.
Short-term investing now is like going to Vegas, but without the hookers and blow.