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The Big C, Citigroup's Bailout
plastic
post Posted: Jun 28 2014, 01:37 PM
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In Reply To: wolverine's post @ Dec 8 2012, 12:46 PM

All good things come to those who wait. biggrin.gif

What will happen when too big to fail fails?

Bring it.

http://in.reuters.com/article/2014/06/25/b...N0P51ZO20140625

QUOTE
(Reuters) - Wall Street banks are set to take a hit from new rules forcing swaps trading onto regulated platforms, a change expected to lower prices and cause further revenue drops, a study showed on Wednesday.

The new rules, which took effect in February and were required by the 2010 Dodd-Frank financial reform law, could cause revenue in the derivatives business to fall by up to 35 percent, the study by consulting firm McKinsey said.

If banks took no further action, this could wipe out their entire profit in that business, the study said.

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The swaps business - with a total outstanding volume of $710 trillion around the world - is dominated by Citigroup Inc, JPMorgan Chase & Co and Bank of America Corp, Goldman Sachs Group Inc and other large banks.







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Where are the Americans?
 
wolverine
post Posted: Dec 8 2012, 12:46 PM
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In Reply To: plastic's post @ Dec 8 2012, 09:01 AM

....and yet they haven't collapsed.



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I AM THE OTHER WHITE MEAT
 
plastic
post Posted: Dec 8 2012, 09:01 AM
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The wheels turn slowly Wolverine but they do turn.

Couldn't happen to a nicer bunch.

QUOTE
US banking giant Citigroup's new chief executive on Wednesday announced a cut of four per cent of its global workforce, less than two months after a shock board move forced out CEO Vikram Pandit.

Michael Corbat, who took the lead of the mega-bank on October 16, said it would slice more than 11,000 jobs, mostly in its global consumer banking division, and take a $US1 billion charge in the 2012 fourth quarter and another $US100 million in the first half of next year.



Read more: http://www.smh.com.au/business/world-busin...l#ixzz2EPTuT6jF




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Where are the Americans?
 
plastic
post Posted: Oct 24 2012, 08:25 AM
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In Reply To: wolverine's post @ Oct 23 2012, 07:20 PM

I honestly can't remember what I said years ago. But if I did, post it up.





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Where are the Americans?
 
wolverine
post Posted: Oct 23 2012, 07:20 PM
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In Reply To: plastic's post @ Oct 23 2012, 02:26 PM

Politician it seems. Avoid the question at all costs and obfuscate with irrelevant information.

Did you or did you not say these banks would have ceased to exist years ago?



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mullokintyre
post Posted: Oct 23 2012, 02:39 PM
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ITS A PLASTIC FLOWER!!

MICK



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plastic
post Posted: Oct 23 2012, 02:26 PM
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Wolverine, have you read Basel Accord III? Or considered what might happen if banks are forced to mark to market the assets they carry on the books?

The rush for capital, or the write downs, starts next year according to Wiki.

This $3bn is just the beginning.

http://en.wikipedia.org/wiki/Basel_III



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Where are the Americans?
 
wolverine
post Posted: Oct 23 2012, 11:41 AM
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In Reply To: plastic's post @ Oct 23 2012, 10:53 AM

Are you a politician?

You said gone by March several years ago. We aren't talking about a collapse in shareprice....nice try to misdirect but even a 6 year old wouldn't fall for it.



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plastic
post Posted: Oct 23 2012, 10:53 AM
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In Reply To: wolverine's post @ Oct 23 2012, 10:48 AM

I did. Look at the chart. You don't think thats a collapse?

ATM, all it is, is a death watch. The Big C has the Big C. Prognosis: Terminal.



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Where are the Americans?
 
wolverine
post Posted: Oct 23 2012, 10:48 AM
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In Reply To: plastic's post @ Oct 23 2012, 10:40 AM

Good work Plastic you have avoided the issue which was that you said Citi was going to collapse 3-4 years ago amongst other wrong calls.

Want to address that?



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