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Treasury Commences Plan to Put Citi (C) Rally to Sleep
Treasury Commences Plan to Sell Citigroup Common Stock
WASHINGTON - The U.S. Department of the Treasury today announced the next steps in its plan to sell approximately 7.7 billion shares of Citigroup common stock. To enable such sales, Citigroup has filed a prospectus supplement with the Securities and Exchange Commission covering Treasury's sale of this common stock.
Treasury will begin selling its common shares in the market in an orderly fashion under a pre-arranged written trading plan with Morgan Stanley, Treasury's sales agent. Initially, Treasury will provide Morgan Stanley with discretionary authority to sell up to 1.5 billion shares under certain parameters. Treasury expects to provide Morgan Stanley with authority to sell additional shares after this initial amount.
Treasury received the shares of common stock last summer as part of the exchange offers conducted by Citigroup to strengthen its capital base. Treasury exchanged the $25 billion in preferred stock it received in connection with Citigroup's participation in the Capital Purchase Program for common shares at a price of $3.25 per common share.
Treasury required Morgan Stanley to provide opportunities for participation by small broker-dealers, including minority- or women-owned broker-dealers. Small dealers interested in participating in the program should submit their firm's name and address, Central Registration Depository Number, and primary and secondary contact details (e-mail and phone number) to Morgan Stanley at ustdisposition@morganstanley.com by 5:00 PM EDT on April 27 for further information.
These sales do not cover Treasury's holdings of Citigroup trust preferred securities or warrants for its common stock, which will be disposed of separately.
Citigroup (C) ~ weekly Red = 55 EMA, Orange = 34 EMA, Green = 21 EMA
Citigroup (C) ~ 30-minute
US Bank Index (BKX) ~ weekly
Purple = 89 EMA, Yellow = 144 EMA, Gold = 1597, Pink = 2584 EMA
Disclosure: no position in the securities mentioned.
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Under the Keynsian hyperinflation thesis, the Dow is going to 36,000 and Gold is going to $5,000
ZIRP represents a virtual printing press for the likes of GS, C and BAC
Having bought the low tick, and with this party just getting started, why would Timmy liquidate his position in C now ?
Remember the old "Citi Never Sleeps". That dinosaur should be euthanized asap.
http://finance.yahoo.com/news/BlackRock-clients-move-to-rb-1064475398.html?x=0&.v=2
Go BlackRock !! You sure Rock !!
Meanwhile Bob Doll's BLK gets beaten down today as its fund investors switch to passive investments and Bob Doll is on CNBC pumping up the rally.
Down 16 points.
Bobby Dole is actually telling people to get into PM.
http://www.benzinga.com/media/cnbc/125522/bob-doll-sees-opportunities-fcx-tgt-coh-cop-mro
FCX is cheap these days...
Zombie for sale. Get your zombie!
hahahahahaha!!! Best laugh of my Monday, to date.
we made it! dow 12500! stocks must be as expensive as possible to ensure national security. we don't want no foreigners buying up our companies.
disclosure: short civilization
I bet they have already sold into the market. This news should subdue things a bit this week; the Treasury has bills to sell and JPM wants Options to expire out of the money. Look for gold to test its first support level of $1145 tomorrow and be at $1135 by friday. Then it is off to the races! Hyperinflation is coming! Technically it comenced on the Argonaut of March 17th, but hey, keep it on the downlow......
Oh and IMF, when are you going to announce the sale of that 191.3 to Japan, Brazil, and Canada? It's getting a little late in the game.....
The Isley Brothers - Contagious:
http://www.youtube.com/watch?v=-qnSz6Lh5pY
Dear IMF,
Please post who you sold the gold to. Post as a reply here under the alias "Sandy Vag". It will be our little secret here on ZH. Nobody else has to know.
Sincerely,
Lennon Hendrix
R.Kelly - Down Low (Nobody Has To Know):
http://www.youtube.com/watch?v=8icIgtdKkdA&feature=related
if you're talking gold and Kells, try The Zoo.
If you think the banks are doing this country in, then watch what the food corporations are doing to us. Makes the banks look like angels -
http://www.pbs.org/pov/foodinc/photo_gallery_watch.php
http://www.pbs.org/pov/foodinc/trailer.php
Freedom is an idea one believes in the reality is something completely different.
Freedom is just another word for: Nothing left to lose.
I wonder what the "parameters" are? The USG owns a private enterprise (several actually) and we don't have fascism in this country? Do you really believe that the interests of Citi (or GM, etc.) haven't been put before your individual rights? This is astounding for a country that prides itself on being free men. Sad, very sad.
you are free to pay your soon to be rising mandatory taxation without representation komrade. please place nose back onto grindstone, thanks.
- uncle scam
HANG THEM!!