Comments on: My take on the latest Citigroup bailout http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: JackBGood http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html#comment-4147 JackBGood Sat, 28 Feb 2009 07:19:13 +0000 http://www.creditwritedowns.com/?p=6491#comment-4147 The government now owns 40% of Citibank. But, the 40% of Citibank they own is debt. Also, that 40% represents 40% of American citizen debt (credit cards, etc. Soooooo, they own the right to take credit card payments from the American people now......and this is totally absurd!!!!! The government didn't make the loans----Citibank did! And Citibank is dead so the debts they created should be dead too! What this REALLY boils down to is that they want to make SURE that American people are still paying their debts! They don't want us to have anything and that it REALLY what it's all about. THEY DO NOT have to bail out ANY company, including banks! The government now owns 40% of Citibank. But, the 40% of Citibank they own is debt. Also, that 40% represents 40% of American citizen debt (credit cards, etc. Soooooo, they own the right to take credit card payments from the American people now……and this is totally absurd!!!!! The government didn’t make the loans—-Citibank did! And Citibank is dead so the debts they created should be dead too! What this REALLY boils down to is that they want to make SURE that American people are still paying their debts! They don’t want us to have anything and that it REALLY what it’s all about. THEY DO NOT have to bail out ANY company, including banks!

]]> By: Jimbo http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html#comment-4139 Jimbo Fri, 27 Feb 2009 19:00:48 +0000 http://www.creditwritedowns.com/?p=6491#comment-4139 It is even simpler. It's an arb play by the preferred holders who plan to convert. They are selling short in the common and plan to cover with the preferred once converted. There will be a massive financial sell plan in financial stocks for a number of weeks until in Citi's case the $27 billion can be exited by the preferred holders. It is even simpler. It’s an arb play by the preferred holders who plan to convert. They are selling short in the common and plan to cover with the preferred once converted.

There will be a massive financial sell plan in financial stocks for a number of weeks until in Citi’s case the $27 billion can be exited by the preferred holders.

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