19 December 2009

KingCast explains why Citibank stock might never rise again and Citigroup is in danger of going under, dragging taxpayers with it.

Pictured: Citi CEO Vikram Pandit, seated with other fat cats, Citi/Morgan Lewis lawyer Sam Shaulson and one of his contemporaries.

KingCast and Bill Christy share as brothers in Citibank misery as stock plummets!

Remember when Bill Christy was writing in last week about how everything was just hunky-dory at Citibank because they couldn't be corrupt because the U.S. Government was about to make some loot from its stock shares?

Not so fast dude.

Citibank suffers weak response to share offering
Posted: 18 December 2009 0026 hrs
NEW YORK : Citigroup stock took a beating on Wall Street Thursday after weak demand for a share offering that prompted the US government to delay the sale of its stake in the bailed-out banking giant.

Citi shares tumbled 8.12 percent in early trade to 3.17 dollars and have plunged some 20 percent over the past week. The market action came after Citi said late Wednesday its share offering saw prices of 3.15 dollars per share.

This was well below the average price paid by the US government as part of a multibillion-dollar bailout under the Troubled Asset Relief Program (TARP).

That prompted the Treasury to delay its plans to divest an initial five billion dollars.

"The US Treasury announced it would extend its lock-up period on the sale of its 7.7 billion share common equity stake to 90 days from 45 days after the completion of this offering," Citigroup said in a statement.


In the Vikram Pandit cam post I ran it all down with information about the fact that almost every multinational banking scam involves Citibank. I've been listing Enron, Ohio, California, Mexico, Russia and some of the others here and at Citibankisracist blog, and of course we will see that Citibank lied when they are forced to produce the bank video in my racial discrimination case against them, MCAD will be requesting that video in the ordinary course of business even though my Motion to Compel it was denied. That denial actually works in my favor because it gives these liars less grounds for appeal should they get smoked at the Commission stage by a Probable Cause determination.

PS: Bill I received an interesting response from Senator Tarr's Office about the correspondence you sent them. I'll be discussing that matter with Senate Counsel next week. I'm chillin' with Oliver Ruff right now and we are really wondering what your role in the whole Franconia Shooting tragedy was really all about.

6 comments:

Christopher King said...

American Tower came back strong because they owned all of the infrastructure.

Citi owns nothing but trouble.

-The KingCaster

PS: American Tower was fined $14M as was Citibank, ATC was fined because of back dating stock options sometime after I was employee of the week.

Christopher King said...

Basically,

The Government is upside down in Citibank, just as U.S. taxpayers are in their homes!

Christopher King said...

Bill you're reading along, would you agree with my assessment that Citi may recover eventually, and it may not, and that the Government is upside down?

19th December 2009 16:03:51
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Christopher King said...

Goffstown Gazer pops in:

20th December 2009 09:51:59
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Christopher King said...

Morgan, Lewis reading right along, no doubt hatin' and trying to find a way to shut me down:

IP Address 12.53.161.4 [Label IP Address]
Country United States
Region Pennsylvania
City Philadelphia
ISP Morgan, Lewis And Bockius

19th December 2009
13:39:19

No referring link
citibankisracist.blogspot.com/2009/12/kingcast-explains-why-citibank-stock.html

Christopher King said...

Lynn/JMO/Snowy/Snowy White has joined the fray, no doubt trying to exonerate Citibank's position just to spite me:

19th December 2009 15:11:04
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