User 155391

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    • Fri Mar 7th 07:00 AM | Rating: 0 0
      Commented on:
      Is Citigroup Another Enron?
      The immediate cause of the ENRON collapse was what ENRON CFO Andy Fastow called "a run on the bank". Other companies refused to trade with ENRON. Banks refused to roll over loans. ENRON had no access to the Fed's discount window. The Fed has well established procedures to stop a run on a real bank such as Citi.
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    • Thu Feb 28th 09:32 AM | Rating: 0 0
      Commented on:
      Will Citigroup Go to the Teens?
      These dire predictions assume that the feds will sit back and let the banks and their millions of customers crater over the next year. It's already clear that there will be bailouts.

      The only real cure will be a restoral of confidence in the markets. That will take time. The question to what degree government action can accelerate this process.
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