The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (226021)	10/24/2009 12:25:06 PM
From: ChanceIs	Read Replies (2) of 306849

>>>Clearly the Fed has picked winners and Citi is on the list.<<< Your points about getting on the shorts too late is well taken. I do think that Citi might be toast. All of the big banks are making it off of trading and/or borrowing for free from the government and lending somewhere else. Their returns from normal banking are nil or negative. The free money from the government will stop at some time. The proper solution two years ago was to break them up, wipe the stockholders, haircut the bondholders, and restructure. It still is the proper solution. Will we do it??? I would be a fool to answer. I do have some bank shorts, based upon technicals. I don't have any RKH short right now but am looking for a window to enter. I wouldn't touch Citi here because it is a total unknown. WFC on the other hand has had a good upwards run while investors ignore fundamentals. It is a reasonable short. See my linked Chris Whalen article.

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