Citigroup next?

On Mike Ruppert's blog he says the report that Citigroup is walking away from the Wachovia deal means their collapse is imminent.

Citigroup's demise may not happen tomorrow but here's a clue. I tried to acess this story at the Reuters news site one minute after it was published at 6:06 PM EDT. The story was getting so much traffic that it took me two minutes to get a download and another two minutes to save it. The sell orders, shorts and puts must be flying off the screens at breathtaking numbers. Make money on the way up; make money on the way down.

He cites this Reuters report

[edit on 10-10-2008 by uknumpty]

I don't think the DJ can tolerate another large failure following up on the Asians this morning. Seriously.

If Citi comes out with a blockbuster today then you can *bank* on another Black Friday.

Probably. One theory is that Citi and Wells Fargo were both so desperate to obtain Wachovia so as to get in the league of "too big to fail." Whoever gets Wachovia (WF as it looks now) is going to be a behemoth, and likely first in line for gov't assistance a la AIG.

It wouldn't surprise me in the least if the theory is true.

I think the question is, would you bet against Buffet（i.e. Wells Fargo)?

I would hazard a guess he's on the winning side more often than not.