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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (6885)	11/4/2007 8:59:59 PM
From: ecrire	Read Replies (2) \| Respond to of 50228

World wide economies are booming. The U.S. is more than holding its own despite the credit problems. Productivity gains to be announced Wednesday will be encouraging and will mitigate against inflationary effects. The sub prime troubles hurt the financials and that too is becoming stale news. Get Real!

To: jim_p who wrote (6885)	11/5/2007 6:33:32 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 50228

"SFAS 157 = LTCM x 10" - Is Citi BANKRUPT? jim p, SFAS 157 (the new accounting rule) could rock the markets. In fact, it already is. The LTCM crisis was caused by their burning through just $4 Billion in capital. Only $4 Billion caused that crisis. Here's what we know so far about - this crisis: We just saw Merrill write off $7.9 Billion. Citibank is writing off $10 Billion. They weren't the first and they won't be the last. Before this is over - we will exceed LTCM by 10-fold. Here's an interesting blog post that asked the question: "Are Citibank, Goldman Sachs & Merrill Lynch - all bankrupt?" goldsilverstockcharts.wordpress.com It's starting to smell like one giant "Enron" isn't it? Tonight's smackdown... a walk down Subprime Memory Lane, a revisit of "Liquidity vs. Reality" and the "LIE" formula that's worked so well (so far) for Paulsen and Bernanke... and some ideas on how to trade it. Mo later, S.O.T.B. PS: Isn't it amazing how Fannie Mae is staying under the radar and off the headlines? They are holding "the mother lode" of subprime paper -- and you and I are "guaranteeing" it.

To: jim_p who wrote (6885)	11/5/2007 5:45:59 PM
From: The Ox	Read Replies (1) \| Respond to of 50228

Citi posted $62 BILLION in NET INCOME for the past 3 years (2004-2006). finance.yahoo.com Yes, writing down $11 billion is a huge hit. Yet it is less then 18% of their EPS from the past 3 years. Should the stock fall, yes. But lets not make this out to be more then it is. How much did JDSU write down with respect to it's SDL merger? From: Message 23999127 Over the next year, the company unraveled, firing 24,000 of its 29,000 employees. It announced a $38.7 billion write-off because the value of the companies it bought had fallen and said 75 percent of its inventory was worthless and could never be sold. JDS restated its earnings for the first three months of 2001. Citi's market cap is $180 Billion. Yes, writing down 11 billion is a huge hit but let's not act like its the end of the world as we know it!