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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (6832)11/1/2007 8:33:10 AM
From: jim_p  Read Replies (1) of 50244
 
Citigroup's capital now has a $32 billion shortfall = zero growth in new business and this is with SIV's still off the balance sheet.

My guess is the banks will be required to place the SIV's back on the balance sheet before the money markets will thaw out. The markets are demanding transparency before banks will loan money to banks, and until this happens the markets will remain frozen. This is one of the main reasons for the so called fed $100 billion SIV bailout plan.

So if Citigroup is $32 billion short now, how short will they be with the SIV's disclosed.

And the credit crunch marches on with no end in sight.

Whodathinkit???

Jim
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