Citi Group to go.... Bank of America to follow

Steve_A · 01-15-2009, 03:40 PM

Hi Everyone,

It looks like the first half of the 700b bailout package served only to stave off the total collapse of the finacial market for a couple of months as stated in these forums last year.

The political game has started with the Reps. not wanting to release the second half of the package without a fight, which is ironic as they threatened martial law last year to hurry the measure through.

Although I agree that the second half should not be released, it's for other reasons, not poltical ones.

Citigroup is back to square one. Their stock is worth 4 bucks and shouldn't even be in the DOW top 50. There are rumours flying around that the US Government will buy Citigroup out and control the finance company. Last years bailout money has done absolutely nothing to help the company and it's not likely that the American population will see the colour of the bailout money ever again.

The Bank of America wanted money to buyout Merryll Lynch. Not going to happen. The money's gone and the debts of Lynch are far wider than first anticipated. Probably the Bank of America will go down. I'm keeping watch, but I will say yet again, take your money out of your account NOW!

Best regards,

Steve

01-15-2009, 03:40 PM	#1
Steve_A Project Avalon Moderator Join Date: Sep 2008 Location: Northeastern Brazil Posts: 1,259	Citi Group to go.... Bank of America to follow Hi Everyone, It looks like the first half of the 700b bailout package served only to stave off the total collapse of the finacial market for a couple of months as stated in these forums last year. The political game has started with the Reps. not wanting to release the second half of the package without a fight, which is ironic as they threatened martial law last year to hurry the measure through. Although I agree that the second half should not be released, it's for other reasons, not poltical ones. Citigroup is back to square one. Their stock is worth 4 bucks and shouldn't even be in the DOW top 50. There are rumours flying around that the US Government will buy Citigroup out and control the finance company. Last years bailout money has done absolutely nothing to help the company and it's not likely that the American population will see the colour of the bailout money ever again. The Bank of America wanted money to buyout Merryll Lynch. Not going to happen. The money's gone and the debts of Lynch are far wider than first anticipated. Probably the Bank of America will go down. I'm keeping watch, but I will say yet again, take your money out of your account NOW! Best regards, Steve Last edited by Steve_A; 01-15-2009 at 03:59 PM.