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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: marginnayan who wrote (70858)	11/3/2007 11:35:38 AM
From: marginnayan	Read Replies (1) \| Respond to of 116555

So essentially this means that if you do a honest job and issue a fair and unbaised report on a stock that is not aligned to their (WS) interest, you may get hurt including being murdered. Oh Boy ! I never thought WS hedgies would go this far including death threats. They may stand to lose billions of US dollars from sinking Citi stock. Justice Department should now waste no time and launch an immediate criminal investigation about these death threats with help from FBI. And let see how many National TV channels report this story. Count down starts now.

To: marginnayan who wrote (70858)	11/3/2007 3:15:00 PM
From: marginnayan	Read Replies (1) \| Respond to of 116555

In a market where fears over the subprime shakedown are spreading pessimism nationwide, Charles Merrill, the cousin of the man who founded Merrill Lynch & Co., is predicting a stock market crash that will put the 1929 crash to shame. Merrill, in an exclusive interview with a financial author, said, “There is going to be a major stock market crash, so protect your assets. Buy physical gold and hide it.” Merrill also discussed all the changes at Merrill Lynch that indicate a potential market crises—even alluding to the company's chief executive officer, who stepped down this week. “Merrill Lynch is crashing, due to the ineptness of the CEO,” Merrill said. “No matter who is running Merrill Lynch & Co., it's going to need a regimen of restraint and recuperation after getting badly bruised by the global credit market shakedown. I predict a house of dominos, and the whole stock market is going to crash.” Lynch's less-than-encouraging remarks were part of an interview with writer Michael Grace, who is writing a book called, “The Final Great Depression.” During the interview, Merrill concluded, “There is so much wealth in Palm Springs ... from inherited to funny money, and I'm advising my friends to buy gold. Grace's book on the 'final depression' sounds like a novel or fantasy but unfortunately it is a picture of our horrible future here in America. My cousin Charlie must be turning over in his grave.” dsnews.com

To: marginnayan who wrote (70858)	11/11/2007 10:08:43 PM
From: marginnayan	Read Replies (1) \| Respond to of 116555

Undettered by death threats, CIBC Whitney downgrades US based large cap banking sector ONG KONG, Nov 12 (Reuters) - CIBC World Markets, whose recent downgrade of Citigroup (C.N: Quote, Profile, Research) sparked a broad market sell-off, cut its rating on big U.S. banks to "sector underweight" from "market weight", saying capital ratios face a "material drop" in the fourth quarter in the wake of the credit crisis. "We believe there is another leg down for bank stocks as investors shift their focus from the massive write-downs due to credit-related exposure to the severe impact that these write-downs and securities-related downgrades will have on many of the banks' risk-weighted assets and capital ratios," CIBC wrote in a report dated on Sunday. In the note, CIBC analysts Meredith Whitney and Carla Krawiec also cut their earnings forecasts for Citigroup and Wachovia Corp (WB.N: Quote, Profile, Research) for the years 2007 to 2009. CIBC said it continues to believe that Citigroup "is at precariously low capital levels that will force the company to sell assets, raise capital, and cut its dividend. Our concern over C (Citigroup) and the probability of its stock falling below $30 a share mounts by the day," they wrote. Citigroup shares have lost nearly 41 percent since the start of the year, and closed on Friday at $33.10. CIBC predicted that large-cap U.S. banks, including Citigroup, Wachovia, Bank of America (BAC.N: Quote, Profile, Research), JPMorgan (JPM.N: Quote, Profile, Research) and Wells Fargo & Co (WFC.N: Quote, Profile, Research), will on average trade at 10 to 11 times forward earnings, at most. CIBC cut its earnings forecast for Citigroup for the current year to $2.31 a share from $2.39. For 2008 it lowered its Citigroup forecast to $3.25 from $3.75, and cut its 2009 forecast to $3.60 from $4.10. For Wachovia, CIBC lowered its earnings per share forecasts to $4.19 from $4.52 for this year, to $4.50 from $5.13 for 2008, and to $5.05 from $5.50 in 2009. Whitney's downgrade on Oct. 31 of top U.S. bank Citigroup roiled stocks on Nov. 1 and helped send Citigroup shares down nearly 7 percent.