Some folks have suggested WB. WB bought Goldenwest here on the West Coast in 2006 for over $25 billion. Goldenwest specialized in variable rate/pay-option and pick-a-payment loans where the debtor could pay a minimal monthly payment and the shortfall would be tacked on to the loan balance. I don't follow WB, so I don't know...
the biggest one of them all is still to come. Citigroup ! They old more toxic paper than anyone else! If the bailout doesn't come through.. good bye citi bank!
Citi Bank was the first to address their problems and wrote down most of their debt. They have deposits to carry their balances and loans as well as a major foreign exposure to call on to get money. The rich sheiks have major stakes in this bank and thats why they will be okay. Citi is owned by travelers which has primerica which is one of the largest salesforce in the industry. Though part time they work for no pay only commission. The market rub down was actually a major financial terror plot foiled by the SEC. Many of the shorts are from overseas. As the banks start to probe the sources of the short money they will see where this all started from. The SEC is asleep at the wheel because the night before they were sleeping with the enemy. COX needs to go... Mark my words his days are numbered... Dow 10500 is the support line with a 10,300 worst case short term next year I predict 12800 on the dow. You heard it here. From Peter Bernanke
Lehman ... Everything is fine.. we are well capitalized. Wamu... everything is fine.. we are well capitalized. Bear sterns... 2 days before disaster. Everything is fine... we are well capitalized. Anyone holding large amounts of CMOs.. will get chopped! ps.. what the hell are you talking about citi wrote down most.. they hold a trillion dollars of assets that the markets for are completely dry... illiquid. Unless the government starts buying these papers.. they are doomed.. just a matter of time.. or at the best case scenario split up into bunch of diffrent divisions!
very unlikely. C is one of the very few stocks I'm watching to purchase for the very long term. It belongs to the "hallowed" triumvirate. BankAmerica, JP Morgan/Chase, Citi along with GoldmanSachs nothing, and I mean absolutely nothing, will be allowed to happen to these entities. It has nothing to do with their fundamentals or exposure to the toxic garbage. more to do with who are the majority share holders. very well connected old money. the real powers.