Citi Faces $6-$10 Billion Write-Off; Prince Is Out

what happens when more write downs happen next earnings season?

 

Keep in mind that when the sh$& really hits the fan Washington will be looking for some scape goats....remember Enron and WorldCom and what happened to the heads of those companies ...all in jail.

I'm sure if some of the Wall Street banks have to turn over information and their books are reviewed there could be a lot of questions asked about the "off balance sheet investments".

Prince and O'Neal better look at some nice South American country that doesn't have extradition treaty.... get out of dodge fast.

 

Anybody notice that Prince has a "sun tan" just like Angelo Mozil from Countrywide Financial?

 

That's a cirrhosis tan.

 

Interesting point. It'll be difficult if not impossible to get your money back if one or the other flounders.

 

Covered at 31.50.

 

Already priced in unless it is a really big riteoff

 

Bought XLF here at 30.93. I will be flat on the close unless it's printing > 31.25. Stop at 30.55.

 

Looking to get back in XLF but dont know, its been slowly trending lower each day, I think it does bounce back to $32 but who knows when, any more major write downs and it could quickly head into the upper 20's

 

Buying XLF at 30.81...