The United States [Bail Out Nation] Government Treasury and Ultra Secret , Ultra Private Federal Reserve continue to pour Money into the private sector to rescue Banking Companies from themselves at Taxpayer Expense. $700 Billion USD to Banking Thieves.
Banks that Screw Up the Most get the Most Bailout Money at the Expense of Taxpayers. Hardly a competitive free-enterprise system now is it? No One is “TOO BIG TO FAIL” but then again this is Socialism – Nationalization on Bush’s Watch – not capitalism.
Citigroup [C] after Losing another $8.3 Billion USD in the most recent quarter is Splitting into Two Entities – Reorganizing into Citicorp [Good Bank] and Citi Holdings [Bad Bank]. Shares [C] NYSE are down to 3.50 a share.
Bank of America [BAC] – even after Receiving another $20 Billion USD in TARP Taxpayer Bailout Money and a Loan Guarantee of $118 Billion USD for its toxic Merrill Lynch unit – the stock [BAC] NYSE dropped to $7.18 a share.
It’s not only the USA who has Nationalized their Banking Sector look at AIB Allied Irish Banks and the Huge RBS Royal Bank of Scotland. If not for Taxpayer Bailouts issued by the government the Shareholders would be Wiped Out.
RBS – Royal Bank of Scotland said its Losses for the full year could be 28 billion GBP [$41.3 Billion USD]. That would be the Biggest Loss Ever by a British Corporation.
Ron Paul is working on a solution unlike George Bush.
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- The Banks Need a Lot More Taxpayer Money Bailouts Citigroup is not alone JPMorgan Chase Bank of America Wells Fargo and most big banks all expect enormous losses as millions of consumers default on their mortgages credit cards and auto loans
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
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Early on Tuesday the Consumer Confidence Index fell to an All-Time Low of 38 , significantly down from last months 61rating in September and as a point of reference , a year ago the index stood at 95. Christmas Shopping Retailers are Expecting the Worst this Holiday Season. Whirlpool Corp announced it is Laying Off 5,000 workers. Unemployment is on the Rise at Xerox , Merck and a host of other Companies. The News is Bad on MAIN ST for “Poor Joe” – home prices and investments falling , Socialist Banking System “No Banker Left Behind” , high unemployment , recession etc
However it was Quite a Day on Wall St. The Dow began Tuesday at 8176 and closed at 9065, UP 899 Points on the day – The Second Largest One Day Rise on the Street. A Big Late Rally in the Final Hour.
Google [GOOG] was UP Over 30 points , many Tech stocks were up , AT&T a Solid Gainer. One Stock that Gained 101.99% on the day was DineEquity Inc [DIN] NYSE . It Rocketed from 9.06 to Close at $18.30 a Share.
Ralph Nader wants To Put The PEOPLE Back in Charge rather than the Crooks. He’s Asking People to Vote For The BEST Candidate , not the least worse. Nov 4th , People.
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