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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (80274)	3/23/2007 2:00:30 PM
From: Broward Horne	Read Replies (2) \| Respond to of 110194

Citibank actually went bankrupt in 1991-1994, did you know that? Virtually no Americans know this because the Federal Reserve did a secret takeover, because Citibank was one of the top ten banks, i.e. can't be allowed to fail. James Grant and Ross Perot both had big short positions against Citibank and they both called the right shot but got burned by the Fed's actions. If you weren't negative in 1993, then you weren't paying attention to real estate in California. :) As near as I can tell, the current RE bubble is roughly 30-50% bigger.