The Recessionista's must wait

Citigroup Increases Stock Offering to $4.5 Billion (Update3)

By Bradley Keoun
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April 30 (Bloomberg) -- Citigroup Inc., under pressure to bolster capital depleted by mounting losses, sold $4.5 billion of stock, 50 percent more than it planned.

Citigroup fell as much as 4 percent in New York trading after the biggest U.S. bank said in a statement that it priced 178.1 million shares at $25.27 each, a discount to yesterday's closing price of $26.32. The sale represents about 3 percent of the bank's shares outstanding as of March 31.

Chief Executive Officer Vikram Pandit asked investors for new funds after the bank had already raised more than $37 billion during the past five months, more than any financial- services company. Meredith Whitney, an analyst at Oppenheimer & Co. who was one of the first to predict the extent of Citigroup's losses, said the latest stock offering may not be the last.

``The fact that the company raised such a small amount of capital at this time confounds us,'' Whitney wrote in a note to investors yesterday. ``Citi needs to raise an additional $10-$15 billion or sell several hundreds of billions worth of assets in order to truly shore up its capital position.''

Citigroup fell 74 cents to $25.58 as of 12:02 p.m. in New York Stock Exchange composite trading, after reaching $25.25. The stock has fallen 52 percent in the past year.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aEdkikTTTWwA&refer=home
 
Topspin said:
there are gillions of numbers that go into gdp, it's not made up.
freak I bet you believe in UFO's too ya moron.
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Why are those who believe in UFOs morons? I'm smarter than you, and I believe in UFOs.
 
Good Luck said:
You are as bad as any blind political party partisan that ever existed. By your definition anyone who does not agree with you is not intelligent enough to understand the situation
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You're quick on the uptake. You figured him out right quick.
 
I'll check back with the three musketeers of GED's after my next big gain.
Yeah the economy is going to crash around our ears luck, lorax and US said so for 2yrs. for me that was a couple hundred grand ago. Woe is me the sky is falling.
 
Topspin said:
wow jarhead country boy from Montana, shit why did I expect you to know shit about the economy???
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When "knowing shit about the economy" means agreeing with your ignorance, no one is ever going to know shit about the economy. Maybe that is because few people are aware the standard of measure for the economy is your personal bank balance. To bad for those of us who think bigger, huh?
 
LOL you tool, you think bigger but the sky is falling according to you.
took a few blows to the head in hand to hand training hey!!
 
Let's see, inflation is on the rise, unemployment is on the rise, consumer confidence is declining, one of the prime factors that has kept average asset values above average personal debt is on the verge of a deflationary slide, the dollar in in the tank, and we are facing a major credit crisis for the second time in just over 20 years.

No reason to see anything negative there. YOU made money so all is fine.

You are either the mindless 13 year old lying troll I believe you to be, or one of the most ignorantly egocentric assholes in existence.
 
yep all serious problems but we've been through way worse you pussy. Unemployment is near historical lows, housing is not even below the long term trend of 6 percent. Inflation will be tough until the dollar firms. I've made out great the last 5 yrs and so have millions of others with iq's above room temperature and determination
 
Topspin said:
yep all serious problems but we've been through way worse you pussy. Unemployment is near historical lows, housing is not even below the long term trend of 6 percent. Inflation will be tough until the dollar firms. I've made out great the last 5 yrs and so have millions of others with iq's above room temperature and determination
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Again, it is not about where we are now, it is about the direction we are going. Another two quarters like the last two and you will no longer be able to claim unemployment is statistically full employment. There are already areas where your 6 percent trend on housing is not true, and the number of areas dropping below the housing debt threshold is increasing, not decreasing. There is NO indication the dollar will pull out of its tail spin anytime soon. These negative aspects of the economy are relatively new.

You and millions of others have made out fine. That's good. I don't have any worries either. I have a full military pension, a significant retirement fund quite well invested, a nice house on a nice piece of land, a few retirement "toys" and (most important in my book) ZERO debt.

It is little wonder people have made out well "the last five years" as the last five years were not faced with the problems we see today. If we had faced today's problems the last five years without resolving them, your tune would be significantly different.
 
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