Citibank below $1, cheaper than hawker centre char kway teow

[downgrader]

CNBC
March 5

Stocks declined Thursday, pressured by doubts about whether General Motors can survive and as Citigroup broke below $1.

The Dow Jones Industrial Average dropped more than 200 points in morning trading, erasing nearly all of the index's gains from the previous session's rally.

Citigroup [C 0.9993 -0.1307 (-11.57%) ] fell below $1 as investors worry about the viability of the bank and the potential for nationalization.

Bank of America [BAC 3.20 -0.39 (-10.86%) ] shares tumbled after Change to Win, a group that works with union-affiliated pension funds, called for the ouster of CEO Ken Lewis.

And seven top executives at Merrill Lynch received subpoenas from New York Attorney General Andrew Cuomo, sources familiar with the investigation told CNBC. The investigation deals with bonus payments made in the run up to Bank of America's takeover of Merrill last year.

 

[khunking]

If the coming election is not a "Cul De Sac", I don't know what is.

 

[makapaaa]

I can afford it! *chey*​

 

[downgrader]

Orgasm lah, Dow Jones below 6,600

Have you downgraded? Or are you living in dreamland?

Please let's send all the foreigners back and free up breathing space for Singaporeans. Less money never mind, must have good quality of life.

No need curry fish head, fish porridge warms my stomach

No need iPod, my unplugged even better

No need KTV, my own hands can do

 

[wuqi256]

Its getting very weird, Citi's director are still buying their shares and a quite a bit too.

Latest News Headlines for Citigroup Inc
Moody's: $1.2B Of Salt Verde Fincl Debt Affected
12 minutes ago - T
Citigroup Dir Bischoff Sells 90,423 Shares >C
28 minutes ago - FF
Citigroup Controller Gerspach Buys 65,000 Shares >C
31 minutes ago - FF
Citigroup Dir Kaden Buys 100,000 Shares >C
35 minutes ago - FF
Citigroup Exec Buys $1.86M In Co Shrs >C
37 minutes ago - FF
Citigroup Dir Hernandez Bought Shrs Monday >C
42 minutes ago - FF

 

[wuqi256]

All of a sudden, jumped to 1.05 and then back down to 1.03 now

 

[downgrader]

multiple orgasm 6,500 coming liao

oh oh oh

recession to depression yeah.......

let s all sing song play guitar by the beach, don't waste time with useless things like work

 

[downgrader]

 

[wuqi256]

Scary chart, hope this is not a harbinger of things to come:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=c&sid=0&o_symb=c&x=32&y=17

 

[downgrader]

Hedge Funds Warn Over Releasing Info to Public
Topics:Regulations | Wall Street | Economy (U.S.)
Companies:American International Group IncBy: Reuters | 05 Mar 2009 | 11:07 AM ET Text Size Wall Street said the United States needed one regulator to oversee all risk in the financial system, but the hedge fund industry cautioned against revealing confidential information to the public.

At a House hearing on Thursday to examine systemic risk, the largest financial services companies and Congressional investigators said one regulator was needed to look across the entire financial system, collect information and use that data to take corrective action across financial institutions.

Their comments come as Congress gets ready to overhaul the country's financial regulatory system amid the fallout of investment bank Lehman Brothers' collapse and the multibillion-dollar bailouts of insurer American International Group [AIG 0.35 -0.08 (-18.6%) ], whose hefty book of complex derivatives has endangered the global financial system.

"Regardless of the ultimate structure of the financial regulatory system, a systemwide focus is vitally important," the Government Accountability Office, the investigative arm of Congress, said in prepared remarks to the House Financial Services subcommittee on capital markets.


RELATED LINKS

Current DateTime: 08:44:41 05 Mar 2009
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AIG Securities' Lending Losses Manageable
Geithner: Deficit to be Cut in Four Years
Slideshow: Origins of the Financial Crisis

"Any regulator tasked with a systemwide focus would need broad authority to gather and disclose appropriate information ... and to take corrective action when necessary," the GAO said.

The Managed Funds Association, a hedge fund lobbying group, said it recognized that a systemic risk regulator needs access to information to be able to adequately assess potential risks to the financial system.

However the hedge fund industry said it was critical for such information to be kept confidential. The group said public disclosure of such information could be misleading.

"Public investors may be inclined to take action based on this data without fully understanding the information, which could lead to adverse consequences for those investors," the MFA said in prepared remarks to the Congressional panel.

 

[downgrader]

US Bankruptcy Filings Jumped 31% in 2008
Topics:Bankruptcy | Economic Data | Consumers | Economy (Global) | Economy (U.S.)By: Reuters | 05 Mar 2009 | 02:38 PM ET Text Size U.S. bankruptcy filings surged 31 percent in 2008 as both businesses and consumers struggled to make ends meet in a worsening economy, according to court data released on Thursday.

Total bankruptcy filings rose to 1,117,771 last year, the Administrative Office of U.S. Courts said, up from 850,912 in 2007.

 

[wuqi256]

Saw this on some website:

Talk cock, sing song, play guitar.
Share price seems now like prata

Yonder drop with no end in sight,
Condo flippers now scared like lao sai

Some jinx still bought and said "long ah"!
i tell her it must be her "lumpar!"

 

[0939]

Orgasm lah, Dow Jones below 6,600

Have you downgraded? Or are you living in dreamland?

Please let's send all the foreigners back and free up breathing space for Singaporeans. Less money never mind, must have good quality of life.

No need curry fish head, fish porridge warms my stomach

No need iPod, my unplugged even better

No need KTV, my own hands can do

No need to Kio Kuay, I presume you use your hands

 

[downgrader]

I love the recession

This will take us back to basic values

Dow Jones now down 50 after earlier rising 150

Looks like we may head towards another weak close

Which is good

Excess wealth based on leverage must be destroyed

People must learn to live basically and within their means

To be humble, not flashy

To love fellow humans, not look down on them

To share the earth, not exploit it to excess

 

[allanlee]

wanna jam ? ...... I bring my guitar

 

[imperialarms]

jsut complete destruction of the entire financial system in US of Arse. americans are getting ready to put on their tin foil hats and stocking up on canned foods

 

[pfingo]

so complicated meh? split the good and toxic. nationalise and federal backing S&P and Moodys can rate AAA. job done