Citigroup suffers a huge loss and world stock markets trembles

Start a Thread Start a Poll

Citigroup suffers a huge loss and world stock markets trembles
Jan 20, 2008 01:08	#11
GARYKINKADE Points: Join Date: Jan 8, 2008 Status: Offline	Mergers, Holding Companies, issuance of a guarantee, not obligated to report to the Securities and Exchange Comm., it's no wonder there is no control over an outfit like this. The price of the stock for Citigroup was $49.40 in 2005 and what is it now? I don't know actually but it's got to be much lower. Hello Enron!!

Jan 20, 2008 09:11

#12

MARRIE
Points:
Join Date: Jan 7, 2008
Status: Offline

old news implies dynamic org. restructure is inevitable.

'' Citigroup reported earlier a fourth-quarter loss of $9.83 billion, or $1.99 a share, which included $18.1 billion in subprime-related writedowns, and a $4.1 billion increase in consumer-related credit costs. Revenue fell to $7.22 billion from $23.83 billion a year ago, missing the mean estimate of analysts surveyed by Thomson Financial of $10.64 billion.''

· Scandals after the 1998 Citigroup Merger
o Stealing employees and clients 1999
o Illegal practices in Japan 2001
o Mortgages scandal 2002
o Alleged complicity in a fraud 2003
o Misinformation 2003
o Staff Helping another fraudster 2002/3
o Late 2003 Emerging Mutual Funds Scandal
o The Global 10 billion Euro Parmalat fraud

· Citizen's Awards

o Worlds most destructive bank award 2000
o One of Corpwatch's 10 worst corporations 2002
· Fraud by employees

i think citi external auditor is honest than those who used to serve enron/telecom.

Jan 20, 2008 21:06	#13
GARYKINKADE Points: Join Date: Jan 8, 2008 Status: Offline	You're just loaded with Citigroup statistics and other information. Maybe you're a stock analyst or in international finance. Don't answer that because it's none of my business. Another problem that some of these financial institutions will encounter will be the credit card debt thats building in the U.S consumer sector.

Jan 21, 2008 09:53	#14
MARRIE Points: Join Date: Jan 7, 2008 Status: Offline	subprimbe crisis makes Americans rely more on short-term borrowing (line of credit, credit cards) to cover daily spending if u guys lack reserves for EMERGENCY!

Jan 21, 2008 11:42	#15
GARYKINKADE Points: Join Date: Jan 8, 2008 Status: Offline	And that's going to be our downfall, because our (u.s.) society through commercials and advertising has (have) been "brainwashed" to go forth and consume using "equity" of our homes or the good ol' plastic cards. By the way, where can Jim Rogers be seen, Bloomber, MSN?

Page 2 of 2 < Previous Next > Page:

Post a Reply to: Citigroup suffers a huge loss and world stock markets trembles