posted on Feb, 20 2009 @ 09:20 AM
Not trying to be smart but I said this in october.
"I don't know how Citi is still alive, is rating is poor, at the end of 2007 it had huge derivatives leveraged against its asset base at nearly 40
to 1(Bear Stearns had something similar i think), and massive exposure to Credit Derivatives at something like 250%. Much higher than Wachovia,
Merrill Lynch, Lehmans, etc, with the current value of market, these derivatives are worth squat, leaving Citi carrying heavy, how are they still
going? I don't get it. JPM Chase was something Like 70 to 1 and Bank of A was similar to Citi, these banks have been swallowing others wholesale?
what is 700billion going to do, JPM had 92 trillion in Derivatives. Citi had 34 till last finacial year ending 2007.
Maybe this is a little off topic, but the stock market plummeting should have seen these Banks topple over, I don't get it?
I think Citi will go next, and the bailouts will get bigger. What do you guys think."
On this thread here....www.abovetopsecret.com...
I can't see how these banks have lasted this long, the bailouts where useless given how huge these banks where leveraged. Nationalisation anyone.