Citigroup turns a profit - DFWstangs Forums
 
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post #1 of 9 (permalink) Old 03-10-2009, 10:31 PM Thread Starter
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Citigroup turns a profit

Looks like Citigroup is treading water again. The only problem is I lost count on how many billions of dollars worth of tax payer's money it took to keep them afloat. Maybe if some of these Banks start turning a profit again they will open up the credit markets and things will begin to get moving again. Things are really starting to break lose on the Railroad. I've talked to some local shippers and they claim they have depleted their inventories so bad it's to the point that if they don't start replenishing their warehouses with parts they won't have any finish products to sell. So they are being forced to open the purse strings and spend some money.

http://www.msnbc.msn.com/id/29611953/

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post #2 of 9 (permalink) Old 03-11-2009, 07:16 AM
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Quote:
Originally Posted by FreightTrain View Post
The only problem is I lost count on how many billions of dollars worth of tax payer's money it took to keep them afloat.
Hell, you would think because of that, they better show a profit!

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post #3 of 9 (permalink) Old 03-11-2009, 07:16 AM
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I haven't fully read up on this, so I'll reserve final judgment until later.

However, all the government money used to bailout Citibank can be paid back over time. If they are pulling a profit now then the chances of us getting that money back just got a lot better...

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post #4 of 9 (permalink) Old 03-11-2009, 08:20 AM
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I guess everything is all good now! Everybody buy Citi now everythings OK!

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post #5 of 9 (permalink) Old 03-11-2009, 08:24 AM
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I am glad that Citigroup looked so rosy yestery, but can anyone tell me how they could be under such an intense watchful eye from the gov. for months and they had not even noticed how well they were doing since January. LOL

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post #6 of 9 (permalink) Old 03-11-2009, 02:28 PM
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I wouldn't give a mid quarter report much weight. It has no official standing. It is not like the report they have to give to the SEC at the end of a quarter. They could exclude anything they want to make the number fit, because it is not an official report.

Look at me, I have a $1 million in my bank account. Just ignore the fact that nearly $1 million of it is pretend money. Just because I say it is so and do not have to back it up with an official report, under penalty of perjury, does not make it so.
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post #7 of 9 (permalink) Old 03-11-2009, 02:57 PM
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Are they counting bailout deposits as part of their profit?

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

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post #8 of 9 (permalink) Old 03-11-2009, 03:57 PM
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Quote:
Originally Posted by Sean88gt View Post
Are they counting bailout deposits as part of their profit?
I was wondering the same thing.

"We" have pumped $50 billion into that pig, and by doing so "we" technically own over a third of the company.

Someone give me $50 billion dollars and I'll show a profit on my gl too.
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post #9 of 9 (permalink) Old 03-11-2009, 04:37 PM
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No shit, so in all actuality, they only lost $42Bil

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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