Falling Bank Stocks Offer a Too-Big-to-Fail Wakeup Call!

Citibank did not take the bailout money. I know, because they told me that when I was getting a loan modification. They did not come under the Obama loan modification program because they did not take the TARP funds. Hence, I got a traditional loan modification: drop in interest, with about 25% of principal moved to the end of a 40 year period without accumulating interest on it. Not a bad deal, very much like the Obama deal, and it worked for us. We were qualified because of (1) loss of job and (2) breast cancer medical bills ($250k).

The Citibank was great, but the catch is that you have to get the paperwork in on time and complete. There is no room for error on the part of the homeowner. You jump when they say jump, and you inquire about the process every day or so to see where your paperwork is moving to.

Persistence pays off, but only with accuracy.

I expect that Citibank will do ok, as they have had pretty good financials so far. Bank of America is in so many foreign countries, it has stability just by sheer size. In my opinion, it is a good investment if the stocks are down.

Way too much fearmongering on this thread. Economics fluctuate. You can't look at the hour by hour deals, just look at the long term.

Still doesnt change the fact that the whole system at its core is criminal and corrupt

bank of america and citibank will both be bought out in the future

Originally posted by ReptilesAreAmongUs
bank of america and citibank will both be bought out in the future

Yes I think both Bank of America and Citi will be bought but by US. The Government will own them. More socialized schemes.

hmm, I don't know what to take of this, I do expect if Citi or BoA fall like WaMu did then it could create a total crash of the market but how big was WaMu when they fell?

Originally posted by hypr2011
hmm, I don't know what to take of this, I do expect if Citi or BoA fall like WaMu did then it could create a total crash of the market but how big was WaMu when they fell?

Yes but WaMu is tiny compared to the fall of Lehman Brothers. The thought of BOA or Citi failing would mean an entirely new monetary system. I suspect using credits only. All electronic. That would also stop the printing press.