Discussion in 'Stocks' started by turkeyneck, Mar 17, 2008.
The market made the point that JPM's gain was CITI's pain. BAC was a push.
Does Rubin know something we don't about Citi's MBS assets?
Rubin Calls for Urgent Government Action to Stem Foreclosures
By Rich Miller
March 21 (Bloomberg) -- Former Treasury Secretary Robert Rubin called for quick government action to tackle the rising level of home foreclosures and he indicated taxpayer money will have to be used.
``There is a strong need for urgent action,'' Rubin, who is chairman of Citigroup Inc.'s executive committee, said. ``I would be very, very seriously considering the possibility of using public funds in one form or another.''
government money shouldn't be used at this point.
drop the value of all mortgages by 10-20%. that would be what 1-2 trillion? should be enough to keep people from walking away from their homes as prices drop.
if banks want to hand out huge bonuses, they shouldn't expect a free ride for their insane risk taking. they were behind prices going through the roof by increasing demand for real estate.
Agree. The general feeling outside of investment banking circles is that bankers who caused the problem should use the billions in bonuses they were paid to prop up their banks/the market before tax payers money is used.
If Ruben thinks support is such a good idea I suggest he uses his own f*cking money first.
If Citi has major problems that lead to possible bankruptcy then their liquidation value is negative or zero just like BSC.
Huge difference between C and BSC.....
Very different business models.....
Both are/were leveraged to the max
That's true but I think C should be treated differently because they also have a commercial banking division that shouldn't be doing as badly as their investment banking division.
rubin is such a drag on our country, he consumes a lot and produces 0
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