Santelli and Kernan just nailed the 'Frankenstein Fund' [NotSoBreaking]

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Santelli and Kernan just nailed the 'Frankenstein Fund' in forum [NotSoBreaking]

Fakemark
Posts: 0
Incept: 2009-06-11

said it is 'reanimating dead securities'. Said it's a 'CITI bailout'. Very few benefit but CITI. Santelli said 'is it legal?'. Called it 'financial alchemy'.

2007-10-15 08:36:41

Macfly
Posts: 831
Incept: 2007-10-05

that was impressive...i was almost expecting men in black suits and sunglasses to escort him out after those comments! lol.
go get em rick!

2007-10-15 08:40:45

Case
Posts: 1449
Incept: 2007-09-17

Wow, Citi must be in the kind of FDIC-ruining deep **** for these guys to cook up such a ridiculous scheme!

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People can be counted on to do the right thing after all else fails.

2007-10-15 09:25:41

Pika-steph
Posts: 37237
Incept: 2007-09-11

^Why I keep^ fighting; so he is not fighting for nothing.
Online

They must be close to total failure....totally exceeding FDIC all on its own....nothing left for anyone else after that.

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Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org

"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards."

2007-10-15 11:14:58

Financeguy
Posts: 4719
Incept: 2007-08-10

Charlotte

60% of National Bank balance sheets are Real Estate related loans. Wait until Commercial Real Estate starts showing stress and then Consumer lending losses move back to historical levels. If losses move close to what we saw in the early 90's we have ourselves a capital problem in the banking system on top of this mess we are seeing already!

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"Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua

2007-10-15 11:28:43

Aztrader
Posts: 4884
Incept: 2007-09-10
Scottsdale, AZ
Online

Commercial real estate is next. They are pulling out all stops to keep the party going. Nice to see a Monday morn selloff for a change. I can't remember the last Monday when I got up and the market wasn't rallying.
IT will be interesting to see if it stays down today.
This fund is a total scam. I love how they keep calling this paper "off the books"................

2007-10-15 11:48:23

Acgreyhound
Posts: 4817
Incept: 2007-08-20

Worcester, MA

God bless Rick Santelli. The lone voice in the wilderness.

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At what point in the descent into bat**** insanity does it become required that you start arbitrarily capitalizing words in your writing? - JFedak

2007-10-15 11:59:40

Adarak
Posts: 5146
Incept: 2007-07-19

<--- "Ya!"

2007-10-15 12:43:43