Home › Forums › Financial Markets/Economics › Citigroup CEO May Resign
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bsrsharma.
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AuthorPosts
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November 2, 2007 at 4:31 PM #10801
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November 2, 2007 at 4:37 PM #94928
SD Realtor
ParticipantBSR when it is all said and done and all the dust settles the entire debacle of CDO’s and such, basically selling debt at a much higher value then what it was worth will make the corruption of the Enrons, Tycos and such look like childs play.
SD Realtor
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November 2, 2007 at 4:50 PM #94932
bsrsharma
ParticipantYes; If any of the major $ denominated asset holders lose their nerve now, it can be all over very fast. We can easily see a 50% devaluation and interest rates above 10% in less than a year. Things can get much uglier than mere recession when faith in currency is lost.
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November 2, 2007 at 4:50 PM #94985Participant
Yes; If any of the major $ denominated asset holders lose their nerve now, it can be all over very fast. We can easily see a 50% devaluation and interest rates above 10% in less than a year. Things can get much uglier than mere recession when faith in currency is lost.
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November 2, 2007 at 4:50 PM #94995Participant
Yes; If any of the major $ denominated asset holders lose their nerve now, it can be all over very fast. We can easily see a 50% devaluation and interest rates above 10% in less than a year. Things can get much uglier than mere recession when faith in currency is lost.
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November 2, 2007 at 4:50 PM #94998Participant
Yes; If any of the major $ denominated asset holders lose their nerve now, it can be all over very fast. We can easily see a 50% devaluation and interest rates above 10% in less than a year. Things can get much uglier than mere recession when faith in currency is lost.
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November 2, 2007 at 4:37 PM #94981Participant
BSR when it is all said and done and all the dust settles the entire debacle of CDO’s and such, basically selling debt at a much higher value then what it was worth will make the corruption of the Enrons, Tycos and such look like childs play.
SD Realtor
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November 2, 2007 at 4:37 PM #94990Participant
BSR when it is all said and done and all the dust settles the entire debacle of CDO’s and such, basically selling debt at a much higher value then what it was worth will make the corruption of the Enrons, Tycos and such look like childs play.
SD Realtor
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November 2, 2007 at 4:37 PM #94993Participant
BSR when it is all said and done and all the dust settles the entire debacle of CDO’s and such, basically selling debt at a much higher value then what it was worth will make the corruption of the Enrons, Tycos and such look like childs play.
SD Realtor
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November 2, 2007 at 7:26 PM #94972
meadandale
ParticipantIf history is any indicator, he’ll ‘resign’ with a golden parachute worth tens or more likely hundreds of millions of dollars…
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November 2, 2007 at 7:26 PM #95026Participant
If history is any indicator, he’ll ‘resign’ with a golden parachute worth tens or more likely hundreds of millions of dollars…
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November 2, 2007 at 7:26 PM #95033Participant
If history is any indicator, he’ll ‘resign’ with a golden parachute worth tens or more likely hundreds of millions of dollars…
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November 2, 2007 at 7:26 PM #95038Participant
If history is any indicator, he’ll ‘resign’ with a golden parachute worth tens or more likely hundreds of millions of dollars…
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November 2, 2007 at 10:50 PM #95010
The OC Scam
ParticipantYeah very tuff when you screw up which accounts for recording breaking losses and receive a million dollar settlement. This is why I’m trying to screw up in my current position and in a month I will ask for a 5 year’s salary package to get rid of me!
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November 3, 2007 at 4:26 AM #95050Participant
Top US analyst hits back after death threats over Citigroup downgrade
Tom Bawden in New YorkMeredith Whitney: The $360bn analyst | Citigroup fears send Wall Street reeling | Citigroup chief is about to quit amid mounting woes | Wall St braced for $10bn more credit crunch hits
Meredith Whitney, the analyst who prompted a $369 billion (£177 billion) plunge in the value of US shares on Thursday by issuing a negative note on Citigroup, hit out at Wall Street’s culture of intimidation yesterday after receiving several death threats from investors in the bank.
Ms Whitney, a CIBC analyst who is married to the former World Wrestling Entertainment champion Death Mask, prompted a near 7 per cent drop in Citigroup’s shares on Thursday, after suggesting that the bank needed to raise more than $30 billion to restore its capital cushion.
She also downgraded her recommendation on Citigroup’s shares to “market underperform” in the note that set off America’s biggest stock market decline since August.
Ms Whitney, Forbes’s second-highest ranked stock picker for 2007, told The Times: “People are scared to be negative, especially when a company has such a wide holding. Clients are not pleased with my call and I have had several death threats.
“But it was the most straightforward call I’ve made in my career and I am surprised my peer analysts have been resistant. It’s so straightforward, it’s indisputable.”…..
http://business.timesonline.co.uk/tol/business/markets/article2796774.ece
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November 3, 2007 at 6:34 AM #95070
davidt1
ParticipantGeez, what a big surprise! Financial stocks have going down for months now. C just hasn’t been hit as hard as the other stocks. How did the media know C caused the market to fall? Did they call investors and ask them if they were selling because C was downgraded? I just can’t picture some joe six-pack saying, “Oh my god, C is in trouble. I better dump WMT.” A few days ago, the headline said, “Market rallies on CFC statement and MSFT earnings.” when the market went up. Do people ever stop for a second to ask questions when they see such silly headlines?
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November 3, 2007 at 9:25 AM #95110
Allan from Fallbrook
ParticipantWall Street Journal is reporting that Prince will resign tomorrow (Sunday) and that the Citigroup board is having an emergency meeting to discuss write-down related issues, Prince’s departure and problems associated with credit crunch and liquidity.
I would be willing to bet that Jimmie Cayne at Bear Stearns is next to go. There are rumors floating around that Bear is in play right now.
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November 3, 2007 at 11:22 PM #95275Participant
How Cayne has survived this long is a mystery to me.
SD Realtor
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November 27, 2007 at 1:54 PM #103959Participant
Can someone please explain the 11% rate? That sounds like pawnshop/payday loan rather than loan to largest US Bank. Why didn’t Citi offer a public offering instead of a 11% convertible at a depressed stock price? I think this suggests they are nearly insolvent. Pretty scary stuff.
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Abu Dhabi’s Sovereign Fund Agrees to Invest $7.5 Billion for a 4.9 Percent Stake in CitigroupNEW YORK (AP) — The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.
The cash from the sovereign investment fund of the Gulf Arab state, which has benefited from this year’s surge in oil prices, will be convertible into no more than 4.9 percent of Citigroup Inc.’s equity. Citigroup characterized the investment as passive and said the fund will not be able to name any board members to the bank.The Investment Authority will receive equity units that pay an 11 percent annual yield — a high price for Citigroup, whose dividend yield is 7.3 percent. They will then be converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011.
The purchase, announced late Monday, would make the Investment Authority one of Citi’s largest shareholders……
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November 27, 2007 at 1:54 PM #104046Participant
Can someone please explain the 11% rate? That sounds like pawnshop/payday loan rather than loan to largest US Bank. Why didn’t Citi offer a public offering instead of a 11% convertible at a depressed stock price? I think this suggests they are nearly insolvent. Pretty scary stuff.
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Abu Dhabi’s Sovereign Fund Agrees to Invest $7.5 Billion for a 4.9 Percent Stake in CitigroupNEW YORK (AP) — The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.
The cash from the sovereign investment fund of the Gulf Arab state, which has benefited from this year’s surge in oil prices, will be convertible into no more than 4.9 percent of Citigroup Inc.’s equity. Citigroup characterized the investment as passive and said the fund will not be able to name any board members to the bank.The Investment Authority will receive equity units that pay an 11 percent annual yield — a high price for Citigroup, whose dividend yield is 7.3 percent. They will then be converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011.
The purchase, announced late Monday, would make the Investment Authority one of Citi’s largest shareholders……
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November 27, 2007 at 1:54 PM #104058Participant
Can someone please explain the 11% rate? That sounds like pawnshop/payday loan rather than loan to largest US Bank. Why didn’t Citi offer a public offering instead of a 11% convertible at a depressed stock price? I think this suggests they are nearly insolvent. Pretty scary stuff.
———————————————————–
Abu Dhabi’s Sovereign Fund Agrees to Invest $7.5 Billion for a 4.9 Percent Stake in CitigroupNEW YORK (AP) — The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.
The cash from the sovereign investment fund of the Gulf Arab state, which has benefited from this year’s surge in oil prices, will be convertible into no more than 4.9 percent of Citigroup Inc.’s equity. Citigroup characterized the investment as passive and said the fund will not be able to name any board members to the bank.The Investment Authority will receive equity units that pay an 11 percent annual yield — a high price for Citigroup, whose dividend yield is 7.3 percent. They will then be converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011.
The purchase, announced late Monday, would make the Investment Authority one of Citi’s largest shareholders……
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November 27, 2007 at 1:54 PM #104084Participant
Can someone please explain the 11% rate? That sounds like pawnshop/payday loan rather than loan to largest US Bank. Why didn’t Citi offer a public offering instead of a 11% convertible at a depressed stock price? I think this suggests they are nearly insolvent. Pretty scary stuff.
———————————————————–
Abu Dhabi’s Sovereign Fund Agrees to Invest $7.5 Billion for a 4.9 Percent Stake in CitigroupNEW YORK (AP) — The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.
The cash from the sovereign investment fund of the Gulf Arab state, which has benefited from this year’s surge in oil prices, will be convertible into no more than 4.9 percent of Citigroup Inc.’s equity. Citigroup characterized the investment as passive and said the fund will not be able to name any board members to the bank.The Investment Authority will receive equity units that pay an 11 percent annual yield — a high price for Citigroup, whose dividend yield is 7.3 percent. They will then be converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011.
The purchase, announced late Monday, would make the Investment Authority one of Citi’s largest shareholders……
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November 27, 2007 at 1:54 PM #104104Participant
Can someone please explain the 11% rate? That sounds like pawnshop/payday loan rather than loan to largest US Bank. Why didn’t Citi offer a public offering instead of a 11% convertible at a depressed stock price? I think this suggests they are nearly insolvent. Pretty scary stuff.
———————————————————–
Abu Dhabi’s Sovereign Fund Agrees to Invest $7.5 Billion for a 4.9 Percent Stake in CitigroupNEW YORK (AP) — The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.
The cash from the sovereign investment fund of the Gulf Arab state, which has benefited from this year’s surge in oil prices, will be convertible into no more than 4.9 percent of Citigroup Inc.’s equity. Citigroup characterized the investment as passive and said the fund will not be able to name any board members to the bank.The Investment Authority will receive equity units that pay an 11 percent annual yield — a high price for Citigroup, whose dividend yield is 7.3 percent. They will then be converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011.
The purchase, announced late Monday, would make the Investment Authority one of Citi’s largest shareholders……
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November 3, 2007 at 11:22 PM #95331Participant
How Cayne has survived this long is a mystery to me.
SD Realtor
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November 3, 2007 at 11:22 PM #95339Participant
How Cayne has survived this long is a mystery to me.
SD Realtor
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November 3, 2007 at 11:22 PM #95347Participant
How Cayne has survived this long is a mystery to me.
SD Realtor
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November 3, 2007 at 9:25 AM #95166Participant
Wall Street Journal is reporting that Prince will resign tomorrow (Sunday) and that the Citigroup board is having an emergency meeting to discuss write-down related issues, Prince’s departure and problems associated with credit crunch and liquidity.
I would be willing to bet that Jimmie Cayne at Bear Stearns is next to go. There are rumors floating around that Bear is in play right now.
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November 3, 2007 at 9:25 AM #95174Participant
Wall Street Journal is reporting that Prince will resign tomorrow (Sunday) and that the Citigroup board is having an emergency meeting to discuss write-down related issues, Prince’s departure and problems associated with credit crunch and liquidity.
I would be willing to bet that Jimmie Cayne at Bear Stearns is next to go. There are rumors floating around that Bear is in play right now.
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November 3, 2007 at 9:25 AM #95184Participant
Wall Street Journal is reporting that Prince will resign tomorrow (Sunday) and that the Citigroup board is having an emergency meeting to discuss write-down related issues, Prince’s departure and problems associated with credit crunch and liquidity.
I would be willing to bet that Jimmie Cayne at Bear Stearns is next to go. There are rumors floating around that Bear is in play right now.
-
November 3, 2007 at 6:34 AM #95125Participant
Geez, what a big surprise! Financial stocks have going down for months now. C just hasn’t been hit as hard as the other stocks. How did the media know C caused the market to fall? Did they call investors and ask them if they were selling because C was downgraded? I just can’t picture some joe six-pack saying, “Oh my god, C is in trouble. I better dump WMT.” A few days ago, the headline said, “Market rallies on CFC statement and MSFT earnings.” when the market went up. Do people ever stop for a second to ask questions when they see such silly headlines?
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November 3, 2007 at 6:34 AM #95134Participant
Geez, what a big surprise! Financial stocks have going down for months now. C just hasn’t been hit as hard as the other stocks. How did the media know C caused the market to fall? Did they call investors and ask them if they were selling because C was downgraded? I just can’t picture some joe six-pack saying, “Oh my god, C is in trouble. I better dump WMT.” A few days ago, the headline said, “Market rallies on CFC statement and MSFT earnings.” when the market went up. Do people ever stop for a second to ask questions when they see such silly headlines?
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November 3, 2007 at 6:34 AM #95138Participant
Geez, what a big surprise! Financial stocks have going down for months now. C just hasn’t been hit as hard as the other stocks. How did the media know C caused the market to fall? Did they call investors and ask them if they were selling because C was downgraded? I just can’t picture some joe six-pack saying, “Oh my god, C is in trouble. I better dump WMT.” A few days ago, the headline said, “Market rallies on CFC statement and MSFT earnings.” when the market went up. Do people ever stop for a second to ask questions when they see such silly headlines?
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November 3, 2007 at 4:26 AM #95105Participant
Top US analyst hits back after death threats over Citigroup downgrade
Tom Bawden in New YorkMeredith Whitney: The $360bn analyst | Citigroup fears send Wall Street reeling | Citigroup chief is about to quit amid mounting woes | Wall St braced for $10bn more credit crunch hits
Meredith Whitney, the analyst who prompted a $369 billion (£177 billion) plunge in the value of US shares on Thursday by issuing a negative note on Citigroup, hit out at Wall Street’s culture of intimidation yesterday after receiving several death threats from investors in the bank.
Ms Whitney, a CIBC analyst who is married to the former World Wrestling Entertainment champion Death Mask, prompted a near 7 per cent drop in Citigroup’s shares on Thursday, after suggesting that the bank needed to raise more than $30 billion to restore its capital cushion.
She also downgraded her recommendation on Citigroup’s shares to “market underperform” in the note that set off America’s biggest stock market decline since August.
Ms Whitney, Forbes’s second-highest ranked stock picker for 2007, told The Times: “People are scared to be negative, especially when a company has such a wide holding. Clients are not pleased with my call and I have had several death threats.
“But it was the most straightforward call I’ve made in my career and I am surprised my peer analysts have been resistant. It’s so straightforward, it’s indisputable.”…..
http://business.timesonline.co.uk/tol/business/markets/article2796774.ece
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November 3, 2007 at 4:26 AM #95115Participant
Top US analyst hits back after death threats over Citigroup downgrade
Tom Bawden in New YorkMeredith Whitney: The $360bn analyst | Citigroup fears send Wall Street reeling | Citigroup chief is about to quit amid mounting woes | Wall St braced for $10bn more credit crunch hits
Meredith Whitney, the analyst who prompted a $369 billion (£177 billion) plunge in the value of US shares on Thursday by issuing a negative note on Citigroup, hit out at Wall Street’s culture of intimidation yesterday after receiving several death threats from investors in the bank.
Ms Whitney, a CIBC analyst who is married to the former World Wrestling Entertainment champion Death Mask, prompted a near 7 per cent drop in Citigroup’s shares on Thursday, after suggesting that the bank needed to raise more than $30 billion to restore its capital cushion.
She also downgraded her recommendation on Citigroup’s shares to “market underperform” in the note that set off America’s biggest stock market decline since August.
Ms Whitney, Forbes’s second-highest ranked stock picker for 2007, told The Times: “People are scared to be negative, especially when a company has such a wide holding. Clients are not pleased with my call and I have had several death threats.
“But it was the most straightforward call I’ve made in my career and I am surprised my peer analysts have been resistant. It’s so straightforward, it’s indisputable.”…..
http://business.timesonline.co.uk/tol/business/markets/article2796774.ece
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November 3, 2007 at 4:26 AM #95120Participant
Top US analyst hits back after death threats over Citigroup downgrade
Tom Bawden in New YorkMeredith Whitney: The $360bn analyst | Citigroup fears send Wall Street reeling | Citigroup chief is about to quit amid mounting woes | Wall St braced for $10bn more credit crunch hits
Meredith Whitney, the analyst who prompted a $369 billion (£177 billion) plunge in the value of US shares on Thursday by issuing a negative note on Citigroup, hit out at Wall Street’s culture of intimidation yesterday after receiving several death threats from investors in the bank.
Ms Whitney, a CIBC analyst who is married to the former World Wrestling Entertainment champion Death Mask, prompted a near 7 per cent drop in Citigroup’s shares on Thursday, after suggesting that the bank needed to raise more than $30 billion to restore its capital cushion.
She also downgraded her recommendation on Citigroup’s shares to “market underperform” in the note that set off America’s biggest stock market decline since August.
Ms Whitney, Forbes’s second-highest ranked stock picker for 2007, told The Times: “People are scared to be negative, especially when a company has such a wide holding. Clients are not pleased with my call and I have had several death threats.
“But it was the most straightforward call I’ve made in my career and I am surprised my peer analysts have been resistant. It’s so straightforward, it’s indisputable.”…..
http://business.timesonline.co.uk/tol/business/markets/article2796774.ece
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November 2, 2007 at 10:50 PM #95067Participant
Yeah very tuff when you screw up which accounts for recording breaking losses and receive a million dollar settlement. This is why I’m trying to screw up in my current position and in a month I will ask for a 5 year’s salary package to get rid of me!
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November 2, 2007 at 10:50 PM #95073Participant
Yeah very tuff when you screw up which accounts for recording breaking losses and receive a million dollar settlement. This is why I’m trying to screw up in my current position and in a month I will ask for a 5 year’s salary package to get rid of me!
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November 2, 2007 at 10:50 PM #95079Participant
Yeah very tuff when you screw up which accounts for recording breaking losses and receive a million dollar settlement. This is why I’m trying to screw up in my current position and in a month I will ask for a 5 year’s salary package to get rid of me!
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