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praveen
Senior Member
Joined: 09/May/2008
Location: India
Online Status: Offline
Posts: 543
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   Posted: 24/Nov/2008 at 1:47pm |
Originally posted by deveshkayal
Investors haven't learnt the difference between prop. investments and P-Notes investments. HDFC and Polaris are prop. investments whereas all others are PN investments which would be transferred to another PN holder (probably Deutche) just like Bear Stearns, Lehman, ML and MS did in the past few months. |
I do understand the difference between the two but I also understand the investor sentiment out there. The fact that an investor A who has an account with Citi on behalf of which Citi has invested may choose to route its investment through some other party but he may also redeem his investment and taking his money elsewhere, thus forcing Citi to sell the stake.
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The quest for knowledge is a never ending Journey
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Mahesh_N
Newbie
Joined: 23/Nov/2008
Online Status: Offline
Posts: 15
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Posted: 24/Nov/2008 at 9:42pm |
Citi gets $20 bn bailout.
Stock up 60 % today.
Can anyone please throw some light on the Gulf support to Citi...
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
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Posted: 26/Nov/2008 at 10:41am |
Citigroup 'went wrong' on realty: Vikram Pandit
Shri Pandit jee
With due respect, the Citi went wrong not only with Realty but with the Reality. Those highly educated MBAs acted on what Buffett calls 'the institutional imperative'.
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Life can only be understood backwards—but it must be lived forwards
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Mohan
Senior Member
Joined: 09/Feb/2007
Location: United States
Online Status: Offline
Posts: 1855
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Posted: 27/Nov/2008 at 9:19pm |
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I did see the interview and have to say, With no respect to Pandit, ( complete contempt actually ) He is an shameless obnoxious jerk who did not acknowledge the reality of the situation that Citi is in and that he is part of the problem. Kept talking ( boasting actually ) about the size and scale of operations of Citi. Completely blind to its profits or lack of it actually. ( In Typical suit boot wala behavior )
It has the worst return ratios of any large bank. Just scaling up in size does not scale up profits. ICICI should learn from this mess and relook its strategy.
As far as the Highly educated MBA's tag. I would call them dumb Programmed fools.
Edited by Mohan - 27/Nov/2008 at 9:19pm
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Be fearful when others are greedy and be greedy when others are fearful.
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PrashantS
Senior Member
Joined: 14/Oct/2006
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Posts: 1294
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Posted: 27/Nov/2008 at 5:17am |
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Mr mohan we have no right to say someone is shameless...btw it is not easy to fit into such position.No bank will come and accept its real numbers including our own banks.In markets nothing is all safe...so i hope u dont condemn anyone just like that
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xbox
Senior Member
Joined: 10/Sep/2006
Online Status: Offline
Posts: 2001
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Posted: 27/Nov/2008 at 9:45am |
Originally posted by PrashantS
Mr mohan we have no right to say someone is shameless...btw it is not easy to fit into such position.No bank will come and accept its real numbers including our own banks.In markets nothing is all safe...so i hope u dont condemn anyone just like that |
 Blaming on Pandit is like firing gun too soon without judging the ground reality...after all he was not the one responsible for current Citi condition.
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Don't bet on pig after all bull & bear in circle.
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Hitesh Shah
Senior Member
Joined: 12/Oct/2008
Online Status: Offline
Posts: 3656
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Posted: 27/Nov/2008 at 9:52am |
Originally posted by xbox
Originally posted by PrashantS
Mr mohan we have no right to say someone is shameless...btw it is not easy to fit into such position.No bank will come and accept its real numbers including our own banks.In markets nothing is all safe...so i hope u dont condemn anyone just like that |
Blaming on Pandit is like firing gun too soon without judging the ground reality...after all he was not the one responsible for current Citi condition. |
But he should talk sense and admit the truth. Citibank is the closest thing to Enron in years. He should know that by now.
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Hitesh Shah
Senior Member
Joined: 12/Oct/2008
Online Status: Offline
Posts: 3656
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Posted: 29/Jan/2009 at 4:24pm |
| Citi grounded | |
| Business Standard / New Delhi January 29, 2009, 0:59 IST |
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After
US politicians raised a stink over Citigroup’s plans to spend $50
million to buy an executive jet, the bank has cancelled its plans.
Reuters quotes a person familiar with the deal to say the jet in
question was a Dassault Falcon 7X. The bank has been quoted as saying
that it will have to pay millions in terms of penalties for cancelling
a deal it had entered into way back in 2005 — presumably this is less
costly than the possibility of turning Congress against it, especially
since the bank could just need to go there again for another bailout.
Corporate jets are a big thing with Congress — when the chiefs of Big
Auto firms came to Washington to plead for a bailout, the fact that
they flew in on separate corporate jets had become a big issue as well.
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