They havent lost their AAA rating because they are very solid companies with no capital adequecy problems AND Moodys and S&P definitely know what they are doing so there is no need to question them.
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) on Thursday said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 millio
That's what those punks deserve for not getting Too Big To Fail in time. If you want a helping hand when it hits the fan, you need to pig up like Weill over at Shitigroup.
Every bond insurer but Ambac and MBIA will pay the price that Ambac and MBIA should have paid. So what you end up with is two huge players that nobody trusts with their business, while all the rest are beaten down and put into runoff mode. Is this what is considered a hostile market consolidation?
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) on Thursday said it aims to cut its home loan exposure by $45 billion
Hahahaha
oooo...... what a UNIQUE strategy! Such a contrast to conventional wisdom there! I'm suuuuure there won't be other people trying to exit the same burning theater at the same time!
To the Board... this is totally off topic but I wasn't sure where to stick this so here goes . Was surfing on the net and ran across this story on the " Across the Curve " site. Summing things briefly , the author mentioned a rumor that the Fed had an Emergency Meeting Thursday and the outcome was that on Friday a significant increase in the TAF will be announced . In addition , the haircut on the collateral submitted to the facility will reduced in a way to help the marketplace. First , anyone here familiar with this site and blogger... this is a bond market blog and reading some of the pieces , the blogger seems credible at first blush. Second , has anyone else heard this rumor today ? In light of present conditions in the credit markets , it's not off the wall to me that the Fed would take this approach.... and if we get a bad NFP print , I can't imagine the Fed would want the weekend to come with a dislocated credit market left to ponder things over the weekend. Finally , Asian markets are crappy as one would expect after the news of the day ( ABK " rescue " debacle / Carlyle debacle / TMA debacle / bond market debacles-- take your pick / widening spreads , etc..... And the Fed does notice the markets , right ? Any feedback is appreciated .
You bears have infected me. Now I am just dying to see the Dow close under 12000.
don't worry, it's coming.
But... but... not all the bond insurers have lost their AAA ratings.
Holy Markets, Batman!
They havent lost their AAA rating because they are very solid companies with no capital adequecy problems AND Moodys and S&P definitely know what they are doing so there is no need to question them.
-sarcasm-
(just got to a computer today)
Tomorrow, tomorrow, I luv ya, tomorrow, you're only a day away!
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) on Thursday said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 millio
the link
Citigroup overhauls mortgage business
| Reuters
Can CIFG sue Moody's over discrepancy in rating procedure?
CIFG was quick to change their home page.
http://209.85.165.104/search?q=cache:1uJEx2rBR9oJ:www.cifg.com/+cifg&hl=en&ct=clnk&cd=1&gl=us
Above is the cached version.
That's what those punks deserve for not getting Too Big To Fail in time. If you want a helping hand when it hits the fan, you need to pig up like Weill over at Shitigroup.
Every bond insurer but Ambac and MBIA will pay the price that Ambac and MBIA should have paid. So what you end up with is two huge players that nobody trusts with their business, while all the rest are beaten down and put into runoff mode. Is this what is considered a hostile market consolidation?
I'm starting to worry about banks being too big to save. I can personally tell you that Wachovia has extended credit to some really dicey companies.
I also recall they bought a huge morgage company at the top (Golden West rings a bell).
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) on Thursday said it aims to cut its home loan exposure by $45 billion
Hahahaha
oooo...... what a UNIQUE strategy! Such a contrast to conventional wisdom there! I'm suuuuure there won't be other people trying to exit the same burning theater at the same time!
No comment
hey, whats this website about anyway? you people are wasting your life doing this.
WOW!! ya, that idea sounds good.
if ya need me call me ill be there in a hurry, no need to worry, cause baby their AINT NO MOUNTAIN HIGH ENOUGH, AINT NO VALLEY LOW ENOUGH!!!!!!!!!!!
looking 4 a great place to eat mash potaters? go to toojays, or maybe even the cheese cake factory
wait... this website is about STOCK MARKET??? and i thought i was on a blog about garden gnomes!!
They shoulda just paid the vig.
To the Board... this is totally off topic but I wasn't sure where to stick this so here goes . Was surfing on the net and ran across this story on the " Across the Curve " site. Summing things briefly , the author mentioned a rumor that the Fed had an Emergency Meeting Thursday and the outcome was that on Friday a significant increase in the TAF will be announced . In addition , the haircut on the collateral submitted to the facility will reduced in a way to help the marketplace. First , anyone here familiar with this site and blogger... this is a bond market blog and reading some of the pieces , the blogger seems credible at first blush. Second , has anyone else heard this rumor today ? In light of present conditions in the credit markets , it's not off the wall to me that the Fed would take this approach.... and if we get a bad NFP print , I can't imagine the Fed would want the weekend to come with a dislocated credit market left to ponder things over the weekend. Finally , Asian markets are crappy as one would expect after the news of the day ( ABK " rescue " debacle / Carlyle debacle / TMA debacle / bond market debacles-- take your pick / widening spreads , etc..... And the Fed does notice the markets , right ? Any feedback is appreciated .