Citigroup seeks "emergency cash" from U.S. Treasury

I believe you are right. Paulson said he will not ask congress for the remaning $350 billion.

 

won't be the first time he flip-flops.

 

http://projects.nytimes.com/creditcrisis/recipients/table

 

They will just print the money, right?

 

Pull your money out now. I think Citi outsizes the FDIC.

 

I smell another 25 bil govt "investment".

But then who? JPM BAC MER MS ??

 

Article says they need $50 billion

It's kinda like AIG. They first came out on Saturday saying they need $40 billion and get $80 billion investment comes Monday. As we all know, $80 billion was not nearly enough.

 

hugh hendry says 'all of them' :eek:

 

This will be a turning point for this whole catastrophe.

If the fed/treasury pull off a refunding while avoiding a run on the big banks, then we will get out unscathed. Otherwise, watch out.

Short of printing $5T and distributing it straight to the populus, nothing will get us out of a true systemic collapse resulting from a major (chain reaction) bank run.

 

Citi already got 25 billion from the Treasury - good going Hank. You are master at sucking.