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CIT Halted
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Waiting to hear how the taxpayer is going to get screwed this time.......can't wait.
i think they will need to remove the word FAIL from the dictionary. It will be obsolete by then end of the current dictators run.
It will only be obsolete for companies. Individuals will still get to take their lumps. You'll see.
Step 1: Halt trading.
Step 2: Inject billions of dollars.
Step 3: Develop story about "Too big to fail" followed by "Saving millions of jobs in a tough economy".
Step 4: Raise salaries and bonuses of workers.
Step 5: Settle GS CDOs and CDS' at 100% of par.
Step 6: Resume CIT trading, run stock up 700%
Step 7: Switch 24/7 media attention to dead celebrity.
Step 8: Profit.
Rinse and repeat, rinse and repeat ... who's your daddy.
Hah, nice! Also, I'd insert the step where Obama assures everyone on TV what a good deal it is for America.
Bonus points for the dead celebrity (but let's not forget the optional path of spotlighting a financial strawman/distraction ala Madoff, Sanford, etc).
that is fricking great
hillarious!
BO will hold a press conference claiming that he is saving thousands of small businesses / millions of jobs with his $15B rescue loan to CIT.
Shortly followed by an appointment of a Small Business Financing Czar.
Shouldn't the american people find a guillotine-czar soon? You really don't the government to fill that position.
If you were french there would be heaps of burning tires outside 1600 pennsylvania avenue by now
Its a sad day when were looking up to the French as to what we should be doing =(
Don't forget a first pitching czar and a non-fat lady blue jeans czar.
"MARK IT ZERO,DUDE"
i'm guessing they take an 79.99% stake in company. Backstop the losses... a 1:20 reverse split. lol
What news? Is anyone else seeing them quoted at a penny?
I guess they made a deal... FDIC must've bought itself a shiny new bank.
on the zh blogspot, someone said there was a 4MM dump just before the halt....ran it to a penny. I'm confused about this.....if they are going to be bailed, i don't understand the apparent wipeout (and it seems all signs were pointing to a bailout)....
Ha. Glad I got out this morning. My gambling fever wore out.
I always notice a flurry of "Glad I" posts everywhere whenever something bad happens.
i'm guessing they take an 79.99% stake in company. Backstop the losses... a 1:20 reverse split. lol
I second that!
I'm impressed you're still posting updates - while in police custody. But I thought you had moved on to bigger targets, like 85 Broad...
Police: 'Fight Club' inspired NYC Starbucks blasthttp://www.breitbart.com/article.php?id=D99F2FVG1&show_article=1
Thanks to the AP for reminding us that Durden "doesn't succeed in the movie." Guess those buildings fell down for unrelated reasons.
read the book, much less optimistic ending.
The article claims that "Project Mayhem" didn't succeed in the movie. Apparently they didn't watch to the end where 10 sky scrapers came a tumbling down. I'd call that a success, no?
Only if one of them was 85 broad.
I think they will be delivered on a golden plate to more "worthy" (better connected) player.
Oh my can someone tell me which company makes buckets. I need the ticker symbol so i can invest and get rich as the government will need many many more buckets at this rate. A bailout pool should be started. Who will be next? Insurance, Finance, or maybe GE.
Civil disobedience.
The people have become too chicken to fight for themselves.
maybe they should hire blackwater
"A bailout pool should be started. Who will be next?"
I fear a sign "GAME OVER" will be next, or rather will appear soon.
They have to bailout CITI. They are run by idiot from hartvards collegium mba programs. Best of America university is bankrupt. So are their graduates. But apparently word isnt out: harvard just accepted largest mba class. So, educate the class with Jack Welch idiocy; graduate them to bankrupt wall street ( a license to steel). Then, repeat.
They are not lending, let them fail. If the do get money they will pay execs, then file BK 2 months later.
Treasury devising aid for CIT: Rep. Frank
http://www.reuters.com/article/newsOne/idUSTRE56E5MW20090715
That good little whore Barney must have got enough campaign contributions out of these guys.
Dont knock Barney Frank! He went to Harvard where all American idiot may be educated! Bestest and brightest!
CIT told to pound sand. Perhaps Barney was slobbering the wrong knob.
No help from Government.
And why would there be any : Goldman said yesterday they are adequately hedged for CIT collapse.
OBAMA; I seem to have dropped my bar of CIT soap, could you pick it up for me?
TAXPAYER: Sure. ( Last understandable words!)
now why didn't they do that to GS!
ah but GS IS the market and the government and everything....