Bank Collapse Watch: CitiGroup 2

Citigroup seeks ’emergency cash’

Executives of Citigroup, one of the biggest banks in the US, are in emergency talks with the US Treasury to gain much-needed funding, reports say.

The bank is also said to have contacted certain shareholders to assess their interest in increasing their stakes as as it faces an uncertain future.

Emphasis added by me.

Really, do you think anyone can take weekends off anymore? When the history of this is written, we’ll find out just how many 3AM calls were made.

Getting faster worse:

There are fears that without further funding the bank might not be able to survive. Any money would be in addition to the $25bn injection it received in October from the US Treasury.

Emphasis added by me.

Still think this is a healthy and going company?

In a bid to reassure investors, Citigroup is running advertisements in US and international newspapers on Sunday underlining its stability.

It is widely expected that Citigroup will issue a statement on Monday before the US markets open.

A world without CitiGroup is going to be a startling thing to witness.

Go grab a bunch of cash for safety. At some point those ATMs are going to stop working.

Explore posts in the same categories: Bank Collapse Watch, C.O.A.T. - Belief, C.O.A.T. - Money, C.O.A.T. - Politics, C.O.A.T. - Scams, C.O.A.T. - Self-Defense, Depression 2.0

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