No Bank Left Behind – No Banker Left Behind – that is the sad state of affairs in the Corrupt Banking and Political arenas. Margin Call Gentlemen. Oh wait , You expect free handouts from honest hardworking taxpayers. Better phone your buddy Bernanke and have him print up some more funny money. The crooks at the federal reserve are working overtime on the printing presses.
Citigroup is not alone. JPMorgan Chase , Bank of America , Wells Fargo and most other big banks all expect Enormous Losses as Millions of consumers Default on their Mortgages, Credit Cards and Automobile Loans. Other losses are expected from Defaulted Loans made to Commercial real estate developers and small businesses.
Will CitiGroup / Citibank [C]NYSE now trading at $4.47 down from a 52 week high of $29.73 – need to Liquidate? It’s looking like the latest Chop-Shop.
Fears about the health of big financial firms and the overall economy have roared back into play – sending the stock market tumbling toward its lowest levels since November 08.
In some international banking stories: HSBC says it needs more than $30 billion.
Barclays announced 2100 layoffs in its global investment banking – wealth and money management units.
Royal Bank of Scotland sold its 4.3% stake in Bank of China for about £1.7 billion but its shares tumbled anyway.
MPEL Melco shares , a Macao Gaming Enterprise and their City of Dreams project , their shares of stock look cheap closing Wednesday at $3.20 I see Value there. Potential quick 25% ROI when stock goes simply to $4.00 Better yet a 50% increase at $4.80
Best of Success and as always , Make Money Be Happy