Moody's also lowered the bank financial strength rating of Citibank N.A. to B from A-. If it doesn't restore its ratios in the medium term, Citi could be facing a further downgrade. Additionally, several Citi units were placed on review for possible downgrades, including Citibank Europe Plc, Citibank International Plc, Nikko Citigroup Ltd. and Citibank Japan Ltd. http://www.thestreet.com/_yahoo/new...ml?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Anything on "thestreet.com" is not news to anyone who trades bonds professionally. I trade C paper every day... Among at least 20 other global banks or investment dealers... And the whole "sub-prime crisis" is a HUGE financial windfall for my firm... Because volatility is my friend. I don't care if it goes up or down... only that it moves. People that publicly claim to know which way these securities are going are: (a) Are LYING in order to sell you something... Like brokerage services or a web site subscription or fund units. (b) Hopelessly naive.
My old friend C note. The timing of this 'news flash' is almost comical and will hold true for for a short time. Seeking Alpha's contributers are almost always a good fade so perhaps a revisit to those wonderful range bars from just over a decade ago.
Exactly... People actually pay for and take seriously and post on forums... These thinly veiled ex-post-facto rehashings of long past events. But if these dudes accepted the truth that C has an EQUAL chance of going up/down in the next 6-12 months... Then they would have to stop believing their own lies. Such as... Only a "genius" would have the steely discipline to subscribe to "thestreet.com".
Hey Dog, My friend Jim Rogers was advocating shorting US banks since July. You can find his call here -- http://www.reuters.com/article/ousiv/idUSSIN29515920070705 He is still bearish on US financial companies, brokers, and banks. I guess you either missed his call, or ignored it. No everyone is as clueless as you are.
about twelve months ago Jim Rogers was talking up base metals. Anyone seen the price of Copper, Zinc, Nickel and Aluminium lately? No wonder he packed up and left for China! (I would have done the same thing in his position) Jim Rogers is little more than a flim-flam man these days.
the party is over but no bounce in this one .. I wonder if you Re-Fi, does the lender ask for another appraisal?
Citibank has its friendly deep pocketed Arabs to bail it out. Plus it's beginning to do well with it's Chinese ventures. WAMU is the one I'd be shorting to oblivion.