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  • Six Stress Test Revelations [View article]
    Hey, Mr. Newmam, your take on the "stress test" results is, well, crappy. C is by far the worst. The government assessment ASSUMES the preferred conversion happens. That's why C "only" needs another $5 B.
    Gee, take the $45 B they already needed and the conversion plus this last $5 B, and you are approaching $85 B !!!!!!! And of course, add to that the back stopping of $300 B of crap assets and you have a disaster waiting to happen.
    Just three questions Mr. Newman, 1) Did you think there was an operational integrety in C's Q1 results, did you like that FASB hat trick? 2) as the unemployment rate ticks up what do you think will happen to C's credit card, installment loan, commercial real estate loan, and mortgage portfolios? What happens when C's "good" mortgages reset from their teaser rates? and 3) how long is it going to take C to get $1.5 TRILLION !!!!!! of toxic assets off the books and how much of a loss will they realize?
    C may not go under but, there will be YEARS OF REBUILDING and writeoffs to contend with.
    May 10 09:58 am |Rating: +2 -2 |Link to Comment
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