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Hot Wall Street Rumor

Discussion in 'Uncategorized Threads' started by Recoil Sissy, Nov 22, 2008.

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  1. Recoil Sissy

    Recoil Sissy Well-Known Member

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    The hot rumor on Wall Street this morning concerns the financially troubled Citigroup. Unconfirmed reports suggest Goldman Sachs is poised to gobble Citi up. The new firm is expected to be called (are you ready for this???)

    sachs in the citi

    your humble business reporter, sissy
     
  2. oleolliedawg

    oleolliedawg Banned User Banned TS Supporters

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    I don't know about the name change but Monday morning will tell the story!!
     
  3. Rico46

    Rico46 TS Member

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    Citigroup has been in trouble for years. They tried to diversify with insurance a few years ago with Travelers. They failed at that and sold it off to St Paul Insurance Companies. They can't even run their core business efficiently! It has been a company in decline for over 10 years! I wouldn't put a lot of credence in the company if it failed or not.

    Rick
     
  4. hmb

    hmb Well-Known Member

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    If it trades under $5 a share for three days all mutual funds that still own it will be forced to liquidate it. That's the rule in place at this time. HMB
     
  5. Haskins Bill

    Haskins Bill TS Member

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    Hmm, Citigroup? They are the ones that turned down business from wholesale firearms dealers and FFL's buying goods here a while back. Too bad so sad except for the thuosands of their workers who are going to be out of jobs. You see I am a retired tool and die maker from one of the big three and I feel even for the 'white collar' workers that are using their jobs. I lost a job back in 1980 from a plant shipping it's product manufacturing to Singapore. About 300 of us were on the street and no one gave a rats a$$, all they could think about was the cheaply made jap cars that they were coming in.
     
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