Citibank is hurtin'

[Supa Dexta]

I've been watching them and their dealings for a bit now, this is just another sign, things aren't too good over at citi. A lot of people saying if you deal with them, pull out now.. well if you still can..

http://www.cnbc.com/id/23180611

[FarmBoy]

So what happens if you owe them money and they fold?

[rage2]

You'll still owe money lol.

[whodiman]

Originally posted by FarmBoy
So what happens if you owe them money and they fold?

You've probably heard of companies getting bought out cheap when they are in trouble. When a bank gets bought out it's because another bank is after their debt at a discount. ie) buys 5 50 million of debt for 10million. Several of these transactions happened last year. The biggest one was Countrywide which was USA's largest mortgage lender..."was".

Although Citibank wrote off several billion in bad debt last year I highly doubt they're in any sort of real trouble.

[BigMass]

Citibank is a Rockefeller org. It will NEVER go bankrupt. Their organizations along with the Federal Reserve prints the money we use. When North America crashed those banks will be the last things left standing lol.

[blownz]

They just finished approving an 8 figure loan I applied for (for company, not personal) for a better rate than any of the big Canadian banks could do. They may be hurting but they will come back.

I won't see the cash for a few weeks though so maybe I should talk until then. lol

[ryanallan]

I was watching Jim Cramer the other day, and he blamed CitiBank for ruining the US economy.

[Mazstyle]

Citibank is the Devil.

[Canmorite]

Originally posted by ryanallan
I was watching Jim Cramer the other day, and he blamed CitiBank for ruining the US economy.

Cramer isn't the smartest guy on the street, and this proves it.

[roopi]

I've taken this opportunity to buy shares in Citibank. Good long term hold and still has a good yield after the dividend cut.

[joegrang]

Does anyone know why Citibank is selling its assets then? I.e. they just sold off some real estate in Japan and are thinking about letting go of a credit card business in Brazil? Are they rapidly trying to raise cash?

[Canmorite]

Originally posted by joegrang
Does anyone know why Citibank is selling its assets then? I.e. they just sold off some real estate in Japan and are thinking about letting go of a credit card business in Brazil? Are they rapidly trying to raise cash?

Raising cash.

[dezmarez]

same deal with cibc
they reissued shares to raise some cash
sketchy times i tell ya

[treg50]

What do you guys think of Citigroup and Primerica? Primerica is a part of Citigroup.

I've been thinking about investing in some Primerica investment products (mutual funds RRSPs).

[Thaco]

Originally posted by dezmarez
same deal with cibc
they reissued shares to raise some cash
sketchy times i tell ya

exactly why my savings are cash :)

[jdmakkord]

Originally posted by treg50
What do you guys think of Citigroup and Primerica? Primerica is a part of Citigroup.

I've been thinking about investing in some Primerica investment products (mutual funds RRSPs).



:rofl: :rofl: :rofl: search:rofl: :rofl: :rofl:

[treg50]

Originally posted by jdmakkord

:rofl: :rofl: :rofl: search:rofl: :rofl: :rofl:
Searched and... damn, that was pretty interesting. Thanks for that.

[Bimmer88]

Citibank is a umbrella corp... which also owns Primerica... ha..


whoops see you guys already have that.

Ummm yeh don't do anything with Primerica...

[Supa Dexta]

citi just announced they are cutting 9,000 jobs.

Merrill Lynch axing 4000 jobs..