mpharbold1

Why I'm Holding On to Citigroup Stock

If C survives, than the US taxpayer is really getting screwed with the toxic assets. C and the tax payer cannot both win here. I'm routing for the more honest taxpayer. Death to Citigroup! God Bless America!

Time to Buy Bank Stocks

This is probably one of the worst articles I've read on seekingalpha. It is totally one sided and completely neglects the current economy. How are the banks going to handle escalating individual bankruptcies? Have you noticed people have been losing jobs? How about more foreclosures? How about commercial developers' bankruptcies? -a new problem. Geithner never said how the government is going to handle banks that fail the stress test. He did not take off the table the possibilty of nationalizing them. Or they could be ruled insolvent and the FDIC could step in like it did with WAMU. The argument in this article is nothing more than "too large to fail." The toxic assets could be too large with C and BAC - I expect Uncle Sam to let the worst ones fail. At this point we have no idea as to the true magnitude of the toxic assets. If you buy insolvent banks now, you are rolling the dice on what Uncle Sam will do and you have no clue.