mangum

Citi Needs Up to $10 Billion in New Capital

Headline: "Citi Needs Up to $10 Billion in New Capital"

1st paragraph from WSJ: "Citigroup Inc. may need to raise as much as $10 billion...."

Anybody besides me see any difference between these two statements?

I guarantee you that nearly no one "educated" in this country over the last 20-30 years will see the difference. And that's just plain scary.

Why Bank Nationalization Will Never Happen

This is an encouraging article until one encounters this extremely foolhardy attempt at humor: "Granted, he [Buffett] is getting a juicy yield for biding his time and having more money than God."

Ah, not really. The truth is that God can buy and sell the entire world economy a trillion times with no more than His pocket change. Buffett's wealth, on the other hand, is no larger to God than a single mote of a dollar bill shredded so finely it would take an electron microscope to have the ghost of a chance to distinguish the individual bits.

The scariest thing of all is what lengths God will apparently have to go to in order to properly whittle the U S A down to size. The process is already underway.

Could Lehman's Failure Cause a Systemic Meltdown?

User 243313 has just nailed it. Meanwhile, the SEC keeps trying to cure the disease by treating the symptoms. One wonders just how many more major IBs will go belly up before naked shorting in our markets is eliminated.