Gone in 60 Days: Citi and Bank of America Won’t Live to See May
Thursday, February 19, 2009 16:21
Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening.
If there’s one thing our readers know, it’s that ChartingStocks.net has made some bold calls in the past which seemed controversial and highly unlikely at the time. Our January 2007 post warned of the coming stock market crash at a time when the market was making new all time highs. In February 2007 we warned about the breakdown of the brokerage stocks and singled out Bear Stearns (Trading at $160), Merrill Lynch (Trading at $87), and Morgan Stanley (Trading at 78). In September 2007, we warned of a selloff in the coming weeks. The market peak and decline began 4 weeks later.
We’re going to make another bold prediction. Bank of America and Citigroup won’t live to see May. The two banks will be nationalized in the coming weeks, and we think that the announcement can come as soon as tomorrow evening (Friday evenings are when major bank announcements and failures occur).
The US government has already committed half a trillion dollars to these two firms which is more than 10 times the amount it would cost to buy and control both companies. The market doesn’t believe that $500 billion is enough to save these companies.
All the kings horses and all the kings men can’t put humpty dumpty back together again.
Today both banks made fresh new lows with Citi closing at $2.51 and Bank of America closing at $3.93. The 1 year charts below show the short term price movements. You should understand that when a bank stock’s chart looks like this, even a HEALTHY bank would be in trouble. Nobody wants their deposits tied up in a company that trades at $2. The outflows of deposits from Bank of America and Citi must be catastrophic.
The stock charts and potential run on these banks are not the only basis for our opinion. The media can be an excellent investing tool if you know how to decipher the news. We don’t watch the news for the information, we watch if for THE LIE.
We play close attention to air time given to so-called “Experts” and the way the media spins the information. If you know that our mainstream media is simply a licensed PR firm for the US government, you can get vital information which you can use in trading. Always ask yourself – What opinion are they trying to insert? What are they selling? What’s the underlying agenda?
The government uses the media to float policy before the public so it can digest it. By the time the government takes the action, most people not only anticipate it but are even asking for it.
In the past two weeks there have been countless debates, op-ed’s, and even opinion polls regarding bank nationalization. The popular opinion among the establishments “Experts” is that nationalizing the banks may be the only way. Even Alan Greenspan, a LIBERTARIAN, recently said that it would be a good idea. It’s coming folks! It’s what the establishment wants. (Sidenote: They may not actually use the word nationalization, even if thats exactly what they do)
Below is the long term view of BAC and C. These stocks have made multi decade lows. Other stock charts which looked similar to these were Fannie Mae, Freddie Mac, Lehman, Bear Stearns.
What happens to the shareholder? We can only speculate that the deal would look something like the takeover of Fannie and Freddie. We believe that the common and preferred shareholders will be wiped out while the bondholders MAY be protected.
Update 1 : We noticed in some of the comments that we may have offended a few REAL Libertarians by calling Alan Greenspan one. We should have phrased it as “Self-Proclaim Libertarian.” Although, there was a time when Mr. Greenspan was a true libertarian, he’s drastically changed his views over the years though he still claims to be a libertarian. A Ron Paul he is NOT.
Update 2: 2/20 Dow Jones Newswire blames Chatingstocks.net for the selloff and denies claims of a public takeover:
Debate over nationalization is becoming a crowded theater,
and technical analysis site ChartingStocks.net stepped in and shouted “Fire!”
last night, predicting Bank of America (BAC) and Citigroup (C) will be
nationalized within 60 days and an announcement may come as soon as tonight.
Bank of America and Citigroup won’t live to see May,” the site told its
readers, saying the new lows in both stocks could create bank runs, and that
Greenspan’s recent comments that nationalization is “the least bad option”
show policy makers are considering it. Citi down 12% premarket to $2.21; BAC
off 6.9% to $3.66. A source familiar with the situation says Citi isn’t in
“any unusual discussions with the government.” ** BAC not immediately available
to comment. (EBW)
Update 3: 2/22 it was announced that Citi was indeed in talks with the government in a deal that would involve the US government buying up to 40% of the companies common stock.
Update 4: 2/27 US Government buys 36% of Citigroups common stock
Update 5: 6/2009 What a difference a few trillion makes! C and BAC still kicking thanks to uncle Sam’s deep pockets and a little tinkering with accounting rules.
Related posts:
FatNSassy says:
February 19th, 2009 at 4:57 pm
Bank of America is an institution without a conscience that has contributed to much poverty in global south. Karma, karma, karma. I only hope those at the top who created all the problems do their fair share of suffering!
Jim says:
February 19th, 2009 at 4:59 pm
Are you kidding? The ones at the top will screw everyone to get their multimillion-dollar bonuses before everything goes to pot. The actual working employees always get the shaft.
Tursas says:
February 19th, 2009 at 5:13 pm
Our banking experiments spanning over 200 years suggest that the independence of the FED is questionable and we might be much better off with a FED that is owned and controlled directly by our government instead of the current mixture of private and some foreign banking empires. How can those foreign private banking empires have the interest of the American people close to their hearts?
Evan says:
February 19th, 2009 at 5:17 pm
Citibank and Bank Of America were built on debt.
There strategy has left them weak and insolvent
Its time for them to be dismembered and sold off to companies who saved money and acted wisely.
The same logic should be applied to home ownership
CFR says:
February 19th, 2009 at 5:17 pm
teepee for my bunghole
Evan says:
February 19th, 2009 at 5:18 pm
Sorry I meant “their” strategy
moses737 says:
February 19th, 2009 at 5:38 pm
Oh well once the Bank of America falls; it is all over for the financial industries!! As the banksters have swindled americans out of trillions; they will be ready now to fold and have us all under their globalist antichrist luciferian Orwellian Fascist System where they will eventually demand that all of us take their zombie making and autonotomic making Mark of the Beast Chip that is spoken of in Revelation 13 and 14 chapters!!
Good news for survivalists « The great escape says:
February 19th, 2009 at 6:03 pm
[...] Financial earthquakes at 12 o’clock, not only in Europe. Another pre-quake in the US could give a shockwave direction Europe. Telling you 60 days in advance: here. [...]
ceciliazi says:
February 19th, 2009 at 7:56 pm
“All the kings horses and all the kings men can’t put humpty dumpty back together again.” this is a very true expression.
Densel says:
February 19th, 2009 at 8:09 pm
Don’t worry people Obama is going to fix everything.
chartingstocks1 says:
February 19th, 2009 at 8:38 pm
they could have paid off every single mortgage in the country with the money they through out on wall st…and what did it get us? nothing lol..unreal
RoadScribe says:
February 19th, 2009 at 8:49 pm
What happens to those with mortgages and loans at these banks? Get sold in lot to another
bank or what?
Blagnarok says:
February 19th, 2009 at 8:54 pm
Nah, they’ll just be forced into indentured servitude as new Obama Corps “volunteers.”
Blagnarok says:
February 19th, 2009 at 8:56 pm
I like these graphs. Somehow they remind me of sledding when I was a child.
chartingstocks1 says:
February 19th, 2009 at 9:14 pm
lol..the funny thing is that if you haver money in a bank and they go under..they dont pay you..the fdic does..anything over fdic limit and you’re on your own…
so when the bank ows YOU money and they fold, they dont need to pay you…but if you owe the BANK money (mortgage) and they go bust, you have to pay them…doesnt seem very fair
Richard says:
February 19th, 2009 at 9:26 pm
speaking of FDIC bailouts, I want to caution you all that although your money is insured be prepared to go a week without access to your money if your bank shuts its doors. It takes some time for the auditors to come in and sort things out. I sat on the “other side of the desk” during the savings and loan crisis and so I’m in the know on how these things are handled.
Heidi C. says:
February 19th, 2009 at 9:39 pm
Don’t you dare refer to Alan Greenspan as a “Libertarian.” He used to be a disciple of Ayn Rand — she called him “The Undertaker” — but he has long since been corrupted by power. There is no way that the former chairman of a cartel of privately owned banks (the Fed), which centrally controls our supply of money and credit, could possibly be “libertarian.”
www.buzzflash.net says:
February 19th, 2009 at 9:40 pm
Gone in 60 Days: Citi and Bank of America Won’t Live to See May…
Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening. If there’s one thing our readers know, it’s that ChartingStocks.net …
KMD says:
February 19th, 2009 at 9:56 pm
JPMorgan will make sure Citi and Bank of Amerillwide are gone by May.
pagehype.com says:
February 19th, 2009 at 9:56 pm
Gone in 60 Days: Citi and Bank of America Won’t Live to See May | Charting Stocks…
Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening….
chartingstocks1 says:
February 19th, 2009 at 10:12 pm
Heidi C. ..i agree with what you said, but if you look at some of the things Greenspan wrote 30-40 years ago, it was VERY Libertarian…he did get corrupted over the years and changed his tune, though still claims to be a libertarian
Hilly says:
February 19th, 2009 at 10:14 pm
Start the printing press!
Bailout, next bank please?
Joey Tavares says:
February 19th, 2009 at 10:23 pm
Are you there God? It’s me, Margaret.
I love the one where the commenter says, “Oh well.”
Oh yeah, America – the European Bankers finally, after 200 long and bloody years, STUCK IT TO YOU, and can you give me a “Hell NO!”?
Oh well.
Dave Wilber says:
February 19th, 2009 at 10:49 pm
Merrill Jenkins. Monetary Realist (1919-1979) had no peers. He said that banks fold when the Fed wants them to fold and the Fed said: “The Federal Reserve, in cooperation with the Federal government has the inherent power to create money, almost any amount of it. This power make technical bankruptcy out of the question.” –The National Debt. Jenkins also said in 1979, “We have world government now, our monetary system would not work if all of the world’s bankers were not in collusion.” The activities last fall showed all of the world’s bankers scurrying around and proved Jenkins right. Nobel Laureate. Paul Samuelson said the Federal Reserve “is an omnipotent counterfeiter”–Economics, 4th Edition. Far too many speak of “money and credit”. The Fed said their system “works only with credit\” that would keep its value “if there were fewer people bidding against each other.—Keeping Our Money Healthy, Library of congress Catalogue No. 60-14368 revised Jan 1979. 6 of Jenkins books are free on the web at: http://www.morpix.biz/x15
Don says:
February 19th, 2009 at 11:09 pm
Alan Greenspan is no libertarian. No real libertarian would ever make such a statement. Alan Greenspan is just another waterboy for the banking community, but by no means a libertarian. To claim that he is, is to either deliberately lie or to write in complete ignorance of libertarianism.
Shaniqua Tamika says:
February 19th, 2009 at 11:36 pm
Strike up the Titanic Band. The ship is going under.
Something to Watch–Bank of America, Citi Gome in 60 Days? « QueenofShina Blog says:
February 19th, 2009 at 11:59 pm
[...] Days: Citi and Bank of America Won’t Live to See May http://www.chartingstocks.net/2009/0…ve-to-see-may/ Thursday, February 19, 2009 [...]
K8 says:
February 20th, 2009 at 1:22 am
The Federal Reserve, is neither Federal nor, is there a reserve…….abolish it now. Kill it, before it kills us. JFK abolished the FED and began circulation of silver certificates backed by silver, look where it got him. Corporate greed is rabid in this country and must be crushed at all cost. Until the American people turn off their TV sets and get off their dead asses, nothing will change. We have, on the whole, grown…….fat, stupid, lazy, and complacent. It is our own fault that our treasury has been plundered and our futures have been stolen away…..we foolishly trusted the powers that be to have our collective best interests at heart. Unfortunately, they only had their own at heart……still do. Let us eat cake!!!!
STI and sing dollar falling fast,my coffin money eroding. - BMW.SG - The BMW Singapore Community says:
February 20th, 2009 at 1:54 am
[...] Asian markets acting ahead. Take a look at BOA’s and Citigroup’s charts……. scary stuff…… Gone in 60 Days: Citi and Bank of America Won’t Live to See May | Charting Stocks [...]
Quickthink » Blog Archive » Quick Quote - Did you Say Slowdown? says:
February 20th, 2009 at 2:10 am
[...] in the US, but will not bring about a turn around (he is thinking 5 more years or so of pain). Charting Stocks predicts that the US government will very soon nationalize Citib and Bank of [...]
Mark C. Upshaw says:
February 20th, 2009 at 2:12 am
What is fundamentally wrong with the nationalization of these or any other institution? What is wrong with the idea that our global crisis is orchestrated for the benefit of an “Elite Class” of people? Would it not be better to allow a consortium of top professionals in each field decide what is best for the other class of people? After all, they know better, they have devoted their lives to the problems facing mankind in their particular field. Doctors tell us what is better for our bodies. Police tell us what is better to maintain our peace. We allow our elected representatives vote for us. We tell our children what is best for them. We should not allow FEAR of the unknown deter us from great improvements in society. We need to trust those who have dedicated their lives to particular fields to know better than our home spun wisdom about what is good for us in all areas where great strides in understanding have been made.
Steven G. Berry says:
February 20th, 2009 at 2:13 am
“It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency.
Both are promises to pay but one fattens the usurers and the other helps the people.”
Thomas Edison
Banks should be government entities, enabling commerce via zero interest loans.
All unearned income should be outlawed.
Usury Kills.
Amathevs says:
February 20th, 2009 at 2:49 am
Anybody now which Elliotwave Labeling now for those charts above ? LOL
Otis says:
February 20th, 2009 at 2:58 am
If it comes to pass, it couldn’t happen to 2 more deserving banks — at least from my experiences using them, going back to circa 1980 when B of A began penalizing me for NOT having enough money in my savings account (I was charged for the paperwork / postage of sending out my monthly statement) while I was a struggling college student living alone and supporting myself.
Mike says:
February 20th, 2009 at 3:06 am
Great article. I also liked your thoughts about the media (although I’m not willing to believe the gov has as much control as you give it credit for. Maybe I’m afraid of the alternative).
I would love for your next article to be the “SO WHAT” side of this. If what you say is true, what is the impact? You have stated that you think the banks will be nationalized, but you haven’t talked about whether or not this is the proper move (at this point in time). Obviously the media can push ideas that also benefit the nation, rare as that may be.
Furthermore, what should your readers do if we are to take this assumption to heart? Will the impact be minimal? Should we short these stocks? Put all our portfolios into gold as the world crashes around us? I look forward to your observations…
BoA and Citi to finally fall??? (ChartingStocks.net) | Riding the DAX says:
February 20th, 2009 at 4:04 am
[...] ChartingStocks.net [...]
Bob Scwimmer says:
February 20th, 2009 at 4:21 am
moses737 , the Banksters have swindled Americans out of trillions ?? What about the “Americans” that borrowed the money and failed to pay it back ? I think we owe the rest of the world quite a large apology for the mess we have created . Bank bashing is getting quite boring IMO.Most people commenting in press etc quite clearly have no idea what they are talking about…..
j man says:
February 20th, 2009 at 5:13 am
will this get rid of the quadrillion dollars worth derivatives?
Bob says:
February 20th, 2009 at 5:33 am
I don’t understand the people in the US. Credit unions (generally) haven’t been affected by the whole mess or at least not as much as the greedy banks with their overpaid CEOs. I myself am sick of the banks whining and tge feds falling all over themselves to give them free bucks, and of the feds for saying (we can’t make them account fr the money, they may not take it!:
I say good riddance to bad trach. I have removed every cent I had in my bank (one of the “receivers” of our gifts) and put it all into my local credit union. If everyone would get their damn money out of these banks, support the credit unions, who tend to support US more than the banks do)and let the banks go the way that all bad businesses should go, we would be better off. My 2 cents.
(p,s no I don’t work for a credit union, I just am learning to hate the slobbering whining banks more with each passing day
)
Sigmar says:
February 20th, 2009 at 7:36 am
I believe Humpty Dumpty is a euphemism for a cannon. They might aswell nationalize the banks if they’re promising to keep them alive whatever happens they why not own them. Banks are only a means to pass money from the poor to the rich anyway. Maybe a benevolent government can be a bit fairer in the redistribution of wealth.
pat stetson says:
February 20th, 2009 at 7:37 am
Is CITI and Bank of America owned by perfidious Jews?
chris says:
February 20th, 2009 at 7:59 am
Your “bold” comments are just that Bold Comments…are you short? Do you want to exhibit fear? Citi may go under, but BAC wont. i truly hope for the sake of this country neither of these banks will be nationalized. Can you imigaine the banks being run like the post office? A nightmare! I hope when/if you are proven wrong you print an apology.
UrbanSurvival » Blog Archive » Santelli Nails It: Panic Optional says:
February 20th, 2009 at 8:00 am
[...] how about this: “Gone in 60 days: Citi and Bank of America won’t live to see May” says one posting out [...]
J Mcallister says:
February 20th, 2009 at 8:06 am
The absorption of Countrywide bad loans coupled with their own mismanagement will lead to the demise of B of A within the second quarter 09.
Bill White says:
February 20th, 2009 at 8:13 am
Death to the Banksters, Fiat Currency and Fractional Reserve Bankin. There is a Reason Christ Threw out the Money changers and usury was illegal for 1700 years!
Lola says:
February 20th, 2009 at 8:26 am
How to say this…welcome to 1929? Not, much better: LA MADRE QUE ME PARIÓ!!!!
suse says:
February 20th, 2009 at 8:29 am
YOU CAN START THE REVOLUTION: Are you sick of being enslaved to the banks? Working for the Man? Seat Belt TIckets? You kids used as cannon fodder?
Here is the simple plan to DESTROY the exisiting system: DO NOT PAY ANY DEBT YOU OWE TO CITI OR BOA.
They will crash, and the failures this spawns will take the rest of the system down with it. This will cause the beer to get hot, the TV will go off, and THIS is what will start the Revolution!
Dan S says:
February 20th, 2009 at 8:34 am
Hey Pat Stetson – as far as I know they are owned by christians…
andrea says:
February 20th, 2009 at 8:39 am
u A o
Jackie Trent says:
February 20th, 2009 at 8:44 am
Madoff laundered money for a country that starts with an I and ends with an L. You and me will have to give his ‘investors’ a tax refund for their phony losses.
The Fed is run by people loyal to that country.
Hint – a 3 letter word – starts with J ends with W.
That is the enemy. And they are stealing our wealth – but we aren’t allowed to speak of it.
So my post will be gone as soon as one of them sees it.
They are everywhere, hated by everyone…. and for good reason.
Bob says:
February 20th, 2009 at 9:39 am
If they nationalize these two banks, then the carnage that will follow in the markets will make the last few months look like a birthday party.
The great interest rate rip off - Page 450 - The Consumer Forums says:
February 20th, 2009 at 9:41 am
[...] The great interest rate rip off Gone in 60 Days: Citi and Bank of America Won’t Live to See May | Charting Stocks [...]
Gone in 60 Days: Citi and Bank of America Won says:
February 20th, 2009 at 9:41 am
[...] [...]
BudBuddy says:
February 20th, 2009 at 10:14 am
CFR has hit the nail on the head…..Whoaaaaaa………
Joe American says:
February 20th, 2009 at 10:19 am
The American Government should let the banks go Bankrupt as they are a canker on society. Instead they should give every American $5000 over 18 and $2500 under 18. This would really get the economy going.
ManAboutDallas says:
February 20th, 2009 at 10:22 am
It’s great sport to take potshots at Alan Greenspan now that’s he’s gone. It’s amazing to me that almost no one seems to realise what really happened and what he really did, namely:
He held ABSOLUTELY TRUE to his Ayn Rand’ian foundation, principles, and beliefs by producing the EXACT SAME OUTCOME as Rand’s hero, John Galt, in “Atlas Shrugged”. Only instead of doing it BEHIND THE SCENES, as Galt did, however, Greenspan did it RIGHT OUT IN THE OPEN, in plain sight. They BOTH “… stopped the motor of the world”. What better way to do something no one would believe possible than doing it broad daylight? Bottom line: Greenspan never abandoned his principles or his beliefs, he did EXACTLY what Rand called for, he just used different tactics.
h5mind says:
February 20th, 2009 at 10:31 am
People are constantly surprised at the level of depravity to which most corporations will sink to separate you from your money, as well as the illogical and counter productive methods they will use to do so. It’s as if the reasonable nature of individuals on the whole somehow translates into ethical or reasonable corporate decsions and policies. This could not be further from the truth. Corporations are, by definition, “artificial persons”. They are “automations which run amok, answering only to their own soulless selves.” There is no conscience contained within quarterly reports, no morality inherent in their mission statements. They exist to maximize profits for select shareholders and corporate officers, to the expense of all else. When their egregiously poor choices lead these great ships of commerce to flounder and sink, they are the first to the lifeboats, pockets bulging with gold.
| Lila Rajiva: The Mind-Body Politic says:
February 20th, 2009 at 10:42 am
[...] Thanks to Charting Stocks. [...]
Hemant Sonawane says:
February 20th, 2009 at 10:48 am
The post offices here in Harrisburg, PA are pretty well-run, with helpful, energetic,cheerful staff and efficient delivery. So YES I wish these banks were run like post offices. Although I’m no fan of regulation or Govt control. I do savor the aroma of sweet justice being served. Cut out the dead wood…out with the old, ring in the new !!
In response to:
“Can you imigaine the banks being run like the post office? “
K8 says:
February 20th, 2009 at 11:00 am
To Jackie Trent:
You hit the nail right on the head!!! Not only are we not permitted to say or use the J word, Mr. Obama would not answer Helen Thomas’ question at the press conference regarding “Which middle east countries have nuclear weapons”. They don’t talk about the $2.55 BILLION in military aid for the country that “starts with an I and ends with an l”. I for one am not amused about being complicit in Israel’s genocide of the Palestinian people with weapons and money from the U.S. It is my hope that Israel gets all that is coming to it, they are thieves and mass murderers. It’s about time someone on this thread brought up the obvious evil that is among us.
Artur Sabadini says:
February 20th, 2009 at 11:02 am
Guys, Come on to Brazil….
Here don´t have this things!!! haha i´m just kidding!!
This problemy is very sirous.
Dave says:
February 20th, 2009 at 11:07 am
I used to think that the people who advocated buying “gold,guns and groceries” were nuts…not any more,in fact,I’ve been well stocked since 07-good luck folks,it’s falling apart.
goateyes says:
February 20th, 2009 at 11:13 am
It was just a few years ago that both these companies decided to give credit cards to illegal immagrants,many if not all have defaulted. Now we the taxpayers are picking up the tab with billions of our tax dollars……..enough is enough………
RBMunkin says:
February 20th, 2009 at 11:18 am
Notice that when these people compare the two graphs of BAC to CITI, that the BAC graph is logarithmic and the Citi is straight. Are they purposely distorting their data to prove what they want to say?
RBMunkin says:
February 20th, 2009 at 11:23 am
“It is my hope that Israel gets all that is coming to it, they are thieves and mass murderers.”
Maybe you are simply an anti-Semite? The Palastinians are no better so why are you picking on the Israeli’s if not for racist reasons?
And Jackie Trent is obviously a racist anti-Semite pig. You are angry at who? Look in the mirror. You are worse than those you hate.
Monnie says:
February 20th, 2009 at 11:42 am
I hope everyone who voted for the idiot in the WH come to regret their terrible mistake! He’s taking the country down at warp speed. He’s a clueless CHILD who’s playing games with the country and the lives of hundreds of millions of people.
K8 says:
February 20th, 2009 at 11:59 am
RBMunkin…
That’s it, scream….”Anti-semite”……real loudly. Anytime anyone opposes Israel they are an “Anti-Semite”. When in reality, the definition of Semitic people includes, Arabs, Hebrews, Akkadians, & Phoenicians. So, Hebrews hating Arabs are Anti-Semites. This has nothing to do with being “racist”, since religion is not race. You are simply saying what you’ve been trained to say to protect and defend Israel’s hatred of everything that is not Jewish!!!
“The Palastinians are no better so why are you picking on the Israeli’s if not for racist reasons?”
The Palestinians, spelled correctly, are not draining our country dry to the tune of $2.55 BILLION annually in aid. The Palestinians are not holding the Israelis in concentration camp conditions against their will. The Palestinians are not STEALING land that is not theirs and building “settlements” against the recommendations of the rest of the world. The Palestinians are not using PHOSPHOROUS bombs against civilians…..homemade, unguided rockets can hardly compare to the weapons of mass destruction possessed & used by Israel. I am sick to death of Israel crying foul and attempting to warp their image as compassionate, as a victim…..they are anything but. Calling me an “Anti-Semite” proves your ignorance. Calling me a “racist” proves you woefully inadequate to criticize my opinion. Israel does not have a “God given right” to exist.
RBMunkin says:
February 20th, 2009 at 12:25 pm
“draining our country dry to the tune of $2.55 BILLION annually”
That’s chump change! Absurd to call it “draining our country”. We spend that on lunch in Iraq.
It’s not worth discussing with you. My main point is Trent (above) is obviously racist.
RBMunkin says:
February 20th, 2009 at 12:29 pm
“I hope everyone who voted for the idiot in the WH come to regret their terrible mistake! He’s taking the country down at warp speed.”
Wow, what delusion. All you want to do is continue not feeling stupid for voting W into the White House. Obama inherited an impossible situation from Bush and is doing the best he can. You expect miracles or he’s a bum. If someone burnt down your house and you couldn’t rebuild it in a day, you are an idiot? That’s what you are saying.
I’m THRILLED he is in the White House because he’s our best chance. What do you think McCain and Palin would have done? Ha!
Congress are being idiots, but as far as President goes, give him a chance. He is trying to build your house in a day that someone else burnt down.
To say he is taking down the country is stupid since it’s Bush who took it down.
What Guru’s are Saying : Lewis And Pandit To Be Government Employees As Early As Tonight? says:
February 20th, 2009 at 12:45 pm
[...] him. So this is most likely the work of some disgruntled employees (Ang Moz), but nevertheless: “Bank of America and Citigroup won’t live to see May. The government will take them over within the n….” Do we buy this, in part or whole? We feel like traitors to the brand for even thinking such [...]
Scot Parker says:
February 20th, 2009 at 1:05 pm
I’ve heard it said that the eventuality of capitalism is socialism. I have learned to doubt such expressions (who said that anyway, a socialist?), but maybe it’s true after all. The problem is greed, of course, and BofA is the greediest. I hate them. I made a credit-card payment on Nov 28th online, and the calender came up, that they weren’t going to credit me until the 1st. So for one day late, they charged me $39, and jacked up my interest rate to 35%. I just paid off that card, and will be closing my account soon. They used to harass the hell out of me, calling me on the phone many times to accept their ‘free’ life insurance. Did I mention I hate BofA? Ya, they suck big time.
goerge says:
February 20th, 2009 at 2:36 pm
so remember …
tuesday is for soylent green
Robert Stout says:
February 20th, 2009 at 2:46 pm
Like the Bible says, surely, your sins will find you out. Greed has literally taken this nation, and others of the world down. Like King Solomon said of old, “Now that all has been heard; here is the conclusion of the matter: Fear God and keep his commandments, for this is the whole duty of man, For God will bring every deed into judgment, including every hidden thing, whether it is good or evil. Ecclesiastes 12:13,14. NOW!! We must wait upon God’s righteous judgment.
Stuart says:
February 20th, 2009 at 2:51 pm
Bank of America is running by the Catholics not Chrisitian.
Omega says:
February 20th, 2009 at 3:11 pm
The bankers don’t care.. They have issued Fiat currencies since 1913.. knowing full well they would suck the life from this country.. “They” are the Federal Reserve. They will indeed burn in hell, along with the lawyers, congressmen, and lobbyists involved. There is no such thing as stimulating the economy with “future tax monies”.. this is a currency implosion. We will all pay, starve and the queen gets her colony back – bitch!
j Fritz says:
February 20th, 2009 at 3:34 pm
No joke, kids. Time to grow up and fight for your lazy lives. Best to band together as small communities and share crop in every available green space. Good fucking luck after Codex Alimentarius kicks in, though. ‘BYE!
"Average Joe" - a BofA employee says:
February 20th, 2009 at 3:51 pm
Just curious if anyone has thoughts as to what nationalization would mean for bank employees (stock issues aside).
Viva the South says:
February 20th, 2009 at 3:59 pm
Maybe now Americans (and Westerners) who have spent unprecedented amounts of money (credit) on mass consumption of whatever they can get for the cheapest price -at the expense of countries in the South (labor, human rights, deep poverty, you name it!) will finally learn a lesson. Please rethink your way of life!
Kathy KIng says:
February 20th, 2009 at 4:25 pm
What happens if you owe Citi bank money on a credit card? Who do you pay or is the debt written off?
Kelanjutan Krisisk ekonomi di Amerika « Waskita Adijarto says:
February 20th, 2009 at 5:29 pm
[...] Citigroup & Bank of America ambruk [...]
Hilly says:
February 20th, 2009 at 5:31 pm
Chris, look at the charts. It’s not bold at all. Quite clear they’re in serious trouble. It’s bold to say they’ll get out of it without intervention!!!
Kathy, you will still need to pay it back to either the government or another bank who takes over. Damn!!
Bill says:
February 20th, 2009 at 5:36 pm
This site is going to look foolish in a few months when BAC returns to 10.
HisNameIsRobertPaulsen says:
February 20th, 2009 at 5:56 pm
So if I took a cash advance out on m BofA card some time in the next few weeks, I won’t have to pay it back?
Nick of Segroes says:
February 20th, 2009 at 5:59 pm
Well well,this is starting to get interesting.I assume that those who read these columns are two steps ahead of the masses of sheople with regards to the three “G’s”(guns,gold,groceries).Hunker down,this will soon get nasty.
JPip says:
February 20th, 2009 at 6:08 pm
So there is no some solution that can recue this banks.
AD says:
February 20th, 2009 at 6:39 pm
It’s all a plan. There is no way that a fascist, capitalistic and imperialistic society such as America is could let this happened if it was not a plan. Think about it: Bush did everything to destroy our economy. It was like no one was at the helm. But the worst part is NO ONE WAS AT THE HELM! And no one is going after Bush & Co. because they were hired to do just what they did. We are in trouble, folks, all of us peasants, slaves and low men on the totem pole. They have done us in. There will be starving and a lot of suicides. There will be atrocious things on the horizon, unthinkable things. Do you find that people are difficult at best and insane at worst and it is normal, more normal than finding friendly people without heavy loads of shit to carry? This is just the beginning. We are asleep now but soon we will be awake in a nightmare where we just will never be able to sleep again…This is just the beginning. Call on your gods…The time is now.
bob says:
February 20th, 2009 at 6:39 pm
I work in the construction industry & as a result of the credit crisis my business dried up & tanked. After my business tanked I lost my house & could not pay my credit cards. There are a whole slew of people out there who were responsible & were just caught up in this thing. Don’t be too judgmental on the wrong people. Open your eyes the entire international financial system is being manipulated by the elite for one purpose. 2010 is the year that all continents & regions of the world will be collected into trading blocks like the EU . 10 to be exact. Here comes a cashless society & the Mark of the Beast.I said it you watch for it. here it comes.Read your Bible.. Its all been foretold in there in the book of Revelation.
john accordi says:
February 20th, 2009 at 6:47 pm
What a terrible waste. My grandfather got his fiurst car olan from Bank of Italy. We have stayed with it for four generations now. Its a sad day for America. Only another AP. Giannni could save Bank of America. I’m afraid there are no Gianinis around today.
Bruce says:
February 20th, 2009 at 6:48 pm
This is just a Bankster process to consolidate wealth by picking the bones of the walking dead. The initial felony theft of 350 billion was just an appetizer. No transparency. No accountability. No jail terms or chair. And we should not expect any different as we proceed. Perhaps folk should jointly repudiate their debt?
bernanke says:
February 20th, 2009 at 6:55 pm
Greenspan is no libertarian in any sense of the word.
David says:
February 20th, 2009 at 7:04 pm
By June Americans will be ashen white ! that is all Americans including blacks red man and Asian and Hispanics.
America will be thrown down like a dirty rag by it’s masters until the perception is that the USA
is just another dirty third world nation. This so that the USA will be folded into the North American Union without commotion .
Gordon Gekko says:
February 20th, 2009 at 7:22 pm
Good riddance to both of these greedy, arrogant, megalomaniacs!
“Greed is Good” – Gordon Gekko
Bastiat says:
February 20th, 2009 at 7:24 pm
Greenscam LIBERTARIAN ?! He is Liberscamian.
Astoria Brown says:
February 20th, 2009 at 7:28 pm
“A government big enough to give you everything you want, is big
enough to take away everything you have” Thomas Jefferson
CA says:
February 20th, 2009 at 8:42 pm
We at GoToGuy.com agree 100%
Roger Jones says:
February 20th, 2009 at 9:11 pm
Our elected polititions are the real reason our country is in the mess we now face. We have been sold out to the One World Government backed by the financial establishment operated by the Bank of London. If there is to be a cure for our failing economy we must chang the structure of our elected political system. When Our country was first established we had to have elected representation to voice our oponions because we had very little means of communication. However our elected officials no longer represent to us. Today we have many means of communication of which the internet is the key. We must establish a national secure voting system. We keep our elected official as information gatherers. All judicary information (both pro and con) would be presented to the various information forfmats. We the People could read this infofrmation and then vote along with our elected officials on all matters of government. This would bring us back to being a true Republic, not a democracy which only leads to a dictatorship. Now is the time. Pass it on, or we all go down!
screaming says:
February 20th, 2009 at 9:58 pm
Our troubles started with the Federal Reserve System.
If that surprises you, please watch this:
http://www.youtube.com/watch?v=ZWKlz2Z4Nlo
baranova says:
February 20th, 2009 at 10:41 pm
The chosen people whose name we’ve been forbidden to say (starts with a J ends with W) are the ones behind the scenes of this whole show…they’re behind the curtains pulling the strings…clinton, obama, emanuel…they’re all the same. I-L sympathizers. And guess what….I used to be a pro I-L person myself…but not anymore. I’ve seen the truth behind the fact that most of our senate and congress are controlled by J-W’s as well as most government bodies on the state level. This is a silent coup…you need to stop looking at them as saddening victims and start looking at them for what they are….liars, thiefs and extortionists with no interest in saving you, the true victim.
Rajesh Arjunlal Jaisingh says:
February 21st, 2009 at 12:18 am
Think the only way the US is going to get out of this mess is by offering upto 250K in an interest-free loan to every citizen in the country repayable over 25 years in equal instalments! Let the people decide whether they want the money and the way they will put it to use (pay off/down loans, buy homes, cars, trips, boats etc). This should bring consumerism alive and get the economies walking again. NO ONE should be allowed to declare bankruptcy or be allowed to relieve themselves off liabilities. That should put some responsibility in place. The toll? Well in order to spread-out / post-pone disaster over many years and save livelihoods we will again start killing the environment with the revival of wasteful expenditure, severely impact the value of the dollar and make sure that some people never learn! Cheap price to pay? Didn’t say that. – LOL!
Sabine K McNeill says:
February 21st, 2009 at 4:39 am
Yes, yes, dear Roger Jones and all others who see through the maze of illusions. As I live only six tube stops away from Westminster, I take part in the ‘political entertainment’ there. And thus I’m using the web as best as I can.
Start by looking at http://tinyurl.com/666rwd if you feel like signing an online petition targeted at the Treasury Select Committee. For I want to die knowing I’ve tried my best.
With best wishes in our struggles,
Sabine
Organiser, Forum for Stable Currencies
Bob DeSena says:
February 21st, 2009 at 5:13 am
Forget about investing in financial institutions. Now is the time to invest in modern day soup and bread lines. Hobo’s that have been in homeless shelters are now buying up beds to rent out to bank executives and displaced families of foreclosed houses. These people are the future real estate executives.
RICHARD RALPH ROEHL says:
February 21st, 2009 at 5:13 am
Back in 2000… EWE folks out there voted (alleged-lie) for President DICK Cheney and George W. Bush, a dry drunk $ociopath with the compassion and morals of a rabid jackal. Then EWE idiots re-$ellected them in 2004. These vicious, fascist war criminals (Bush et al) let Wall $treet and the banksters have their way Main $treet. All I can say… is that EWE folks (today’s fat ass Amerikans) now reap what EWE $ow! Forget Obama! It’s too damn late! The borders are broken with illl-eagle invasions from the gangbang cocaine country of Mexico… and Rome is burning in Iraq-NAM and Afghanistan-NAM, the graveyard of empires! Mean, mean, meanwhile… as Amerika continues to give blind $upport to the Zionist nuts in the theocrazy of Israel, Joe $ixpack’s peanut wage forklift job is being exported to India or wherever. Wake up fat ass! The time has arrived for EWE to prepare. Ewe need to prepare for barbarians! They’re coming to make chaos and bedlam (which includes rape and murder) at your front door! You’re going to need at least a 40 calibur… and a lot of ammo.
madmike says:
February 21st, 2009 at 5:31 am
The Federall Reserve is the culprit.
Will CITIBANK and BANK OF AMERICA die within a few months? « A clown’s smirk in the skull of a baboon Weblog says:
February 21st, 2009 at 5:51 am
[...] We’re going to make another bold prediction. Bank of America and Citigroup won’t live to see May. The two banks will be nationalized in the coming weeks, and we think that the announcement can come as soon as tomorrow evening (Friday evenings are when major bank announcements and failures occur).See story HERE [...]
Laromi says:
February 21st, 2009 at 6:37 am
Whats the bet preferred payment to exe’s will be in good old gold? Not your run down basic dollar. Anyhow, even if the bonuses etc. are paid in real dollars all will be for hought if the pundits are correct
Oz Bear says:
February 21st, 2009 at 6:41 am
The elite will start another war with Iran by arranging some sort of false flag attack on the US. The dumb Americans will believe it and send off their young soldiers to fight the elites war. Meanwhile all the jobs will go to low paid immigrants and Israel will be safe and sound will a heap of US taxdollars and more stolen Palestinian land. The decent US people are being bent over and rodgered big time whilst watching cable and eating pizza.
Laromi says:
February 21st, 2009 at 6:41 am
Bob DeSena says:
February 21st, 2009 at 5:13 am
Forget about investing in financial institutions. Now is the time to invest in modern day soup and bread lines. Hobo’s that have been in homeless shelters are now buying up beds to rent out to bank executives and displaced families of foreclosed houses. These people are the future real estate executives.
It’s about time they had a change in luck:))
Gordon says:
February 21st, 2009 at 8:16 am
K8 ” Israel does not have a “God given right” to exist.”.I hope you come to realize just how wrong you are. Read the worlds best seller and see the promises made to Israel.
NATIONALIZE THE FEDERAL RESERVE! « Culture of Life News says:
February 21st, 2009 at 8:23 am
[...] Gone in 60 Days: Citi and Bank of America Won’t Live to See May | Charting Stocks Citigroup (C) and Bank of America (BAC) won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening. [...]
steve a says:
February 21st, 2009 at 9:29 am
It won’t take until May, you could almost guarantee it. I suspect next week will be a serious problem for the market. I sincerely believe that both Citi and BoA will be nationalized by the end of the week.
chartingstocks1 says:
February 21st, 2009 at 10:35 am
be careful Steve, you may end up in the WSJ
sandman66 says:
February 21st, 2009 at 10:49 am
Can ameriKa go bankrupt?
YES WE CAN!
Pete says:
February 21st, 2009 at 11:14 am
Well, if the B of A falls, this will be a very interesting situation.
Jackie says:
February 21st, 2009 at 12:17 pm
I understand why you’re saying what you’re saying, and I think it really could happen. But the charts for bank of America, while not so great, have also been tampered with to accentuate the drop. If given equal spacing in the horizontal grid the charts would look more like this http://moneycentral.msn.com/investor/charts/chartdl.aspx?Symbol=BAC Still not good, by any means, but you shoudln’t lower yourself to the same scare tactics that BB uses.
rx says:
February 21st, 2009 at 12:20 pm
The Glass-Steagall Act of 1933 was the phenomenally successful firewall set up to separate investment and commercial banking. Senator Phil Graham and Rep Jim Leach had GS repealed the act in 1999; the rest is history along with the banks.
Excellent job Phil and Jim; Instant karma is going to get you.
Mission Impossible says:
February 21st, 2009 at 12:28 pm
Judaism is a belief system, not a race. The endless attempts to paint ‘Jewishness’ as a race is propaganda; pure and simple.
In reality, the Western World’s finances have been corrupted by an Asiatic race of people who mastered the art of parasitic living, many centuries ago. It is this ethnic group who adhere most closely to the Talmud. They are 9th century AD converts to Judaism, and most certainly not Semitic. You can easily identify them by their facial features and oriental eyes. Next time you see Brzezinski on television pay close attention. They are descended from the dross and left overs of the Turkic Khazars and the Mongol hordes who shifted westwards into Europe and Russia, around 8 centuries ago. Surely, by now, you all know something about the Khazars? Later, they became the Ashkenazis due to their preponderance in the Germanic lands of central and eastern Europe, especially within the shifting borders of Poland. These are the same people who murdered around 50-million Christians in Russia and the Ukraine, between 1919 and 1939, and the same who murdered thousands of ethnic Germans living in and around the Danzig Corridor during those years leading up to World War Two; thus helping to provoke National Socialist Germany into invading Poland in September 1939 so that the carnage could be stopped. Research ‘Bromberg’ for more information. These are the hidden reasons why Nazi Germany showed little mercy to Poland’s ‘Jews.’
Following their mass immigration into New York and Chicago especially, the Ashkenazi are the ethnic group who have most conspired to screw white Americans (through usury, slavery, psychoanalysis, communism, mass immigration, multiculturalism, diversity, pornography, outsourcing, et al) —- the very same Americans who offered them hospitality when they needed it the most, during the late 19th century. Even Bill Gatinsky (his real name) founder of Microsoft, has screwed westerners by producing an endless stream of sub-standard software for premium prices. In recent years he has taken to disposing of some of his obscene wealth through philanthropic generosity, but never within the borders of the USA. Gatinsky has also been credited with kick-starting the Indian software industry by investing $-Billions in India (and China). This industry has undercut tens of thousands of American IT graduates since the late 1990s.
The ADL is an extension of Mossad, and the US Dept of Homeland Security is being dictated by Israeli political ambitions. These Khazars who control the puppet presidents that media-duped American ‘citizens’ periodically voted into the White House, are now preparing to use American troops blooded in Iraq, to shoot ordinary Americans on American soil if and when the sh*t really starts to hit the fan. You couldn’t make this madness up if you tried. Truth has become stranger than fiction. For these and many other reasons, the world will be a far better place without Citi and Bank of America.
FINACIAL TIMEBOMBS ABOUT TO GO OFF? says:
February 21st, 2009 at 2:34 pm
[...] while…. In the USA…Gone in 60 days citi and bank of america wont live to see May… Gone in 60 Days: Citi and Bank of America Won’t Live to See May | Charting Stocks OOOOHHH!…Further to the eastern European situation… [...]
EVERYDAY PERSON says:
February 21st, 2009 at 3:02 pm
REPLY TO chartingstocks1
Awesome comment!!
Gone in 60 Days: Citi and Bank of America Won’t Live to See May « A Lord of the Night is Wandering says:
February 21st, 2009 at 4:07 pm
[...] Δημοσιεύθηκε από A Lord of the Night στο Φεβρουαρίου 22, 2009 http://www.chartingstocks.net/2009/02/gone-in-60-days-citi-and-bank-of-america-wont-live-to-see-may/ [...]
gladits nighte says:
February 21st, 2009 at 6:46 pm
Reply to Mission Impossible’s comment:
WTF?
NECIA says:
February 21st, 2009 at 7:10 pm
mark c what are you drinking/ smoking?? chem trails get to you ? what is wrong with these idiots is they are evilby nature..when isd the last time you asked mom and dad what to do …? no they just ruled your life researcg wake up!!!!look at anything but main stream lieing whore media
NECIA says:
February 21st, 2009 at 7:17 pm
rb munkin..since when is it alright for ANY country or people to committ GENOCIDE use the illegal horrendous weapons on people they hate get over it the jew ..the real semitic jews are fgood people the zionist that rule big I and the USA are killing everyone in everty way they play the race card i say bs as the jews againt the zionists tell you how it is read grow up sheeple awaken that means yo..i am sickof the corruption and sheepled running in fear andjust bening ove ENOUGH!!!!!!!!!!!!!
Dan says:
February 21st, 2009 at 8:23 pm
So what dopeople that hold stock in bank of america do????? when the govt takes over will they lose everything they have?? or will the stock go up slightly?? Since its at 3$ much more cant be lost any chance that when the govt takes over it can go to maybe 5$ or once the govt takes is over they lose all stock????
Demosthenesi says:
February 21st, 2009 at 9:52 pm
Goateyes pointed out.”It was just a few years ago that both these companies decided to give credit cards to illegal immigrants,many if not all have defaulted. Now we the taxpayers are picking up the tab with billions of our tax dollars……..enough is enough…”
He was absolutely right- when they did this I completely stopped doing business with them- what gall!- every year they send me a copy of their Terms and Conditions which is longer than the U.S. Constitution- the rules I must live by- but for people who by definition do not play by the rules, they offer new accounts with open arms!
What is even more despicable was how, in trouble themselves, they went out on a limb to buy Countrywide- and why would anyone in their right mind do that? 1. Because they knew they would be bailed out; 2. They could continue to service the loans- which process had created massive discontent as managed by Countrywide, but above all, 3. They would, as the banking system became more and more concentrated, be in a position to behave with unbridled usury. I demanded that they stop sending me unsolicited Cash Advance checks at outrageous rates ( 20x what they are paying savers) to no avail.
Big time short sellers says:
February 21st, 2009 at 11:17 pm
Many short sellers short Citibank and BAC big time and making big money.
Is so wasy to make money from Citi (C) and Bank of America(BAC). Just short the two stocks.
It drop everyday. You do not need any skill just short the two stock to make big money.
Big time short sellers says:
February 21st, 2009 at 11:21 pm
So many people make miliions simply shorting citibank (C) and Bank Of Ameria (BAC). Come and join in to short the banks. Is so easy to make money this way.
Daily Gloom - 02/22/09 « Forward Liberally says:
February 22nd, 2009 at 1:09 am
[...] Government to nationalize Citigroup and Bank of America? [...]
‘Gone in 60 Days: Citi and Bank of America Won’t Live to See May’ « Ctrl-Alt-Apocalypse says:
February 22nd, 2009 at 4:30 am
[...] ‘Gone in 60 Days: Citi and Bank of America Won’t Live to See May’ source: “Charting Stocks” (blog) [...]
uneedcheese says:
February 22nd, 2009 at 5:05 am
Teepee for my bunghole. That about says it all.
WAKE-UP USA says:
February 22nd, 2009 at 6:09 am
FELLOW AMERICANS this is controlled collapse google search “new world order” spend an hour or two and read then look around at whats happening then “THINK”
Maria says:
February 22nd, 2009 at 7:04 am
@Mark Upshaw – “We tell our children what is best for them.”
This is the part where your analogy rankles me. No matter what you might feel in your daily life and probably with evidence to the contrary, we are not “the children” of “experts”. This sort of mentality is frightening in so many ways.
Nationalizing an institution can be debated for its’ practical feasibility, its’ economic impact, and its’ consequences (and there will be, it’s not just a “management issue.”) But please don’t be under some illusion, the people that have been running the shows up to this point have also devoted their lives to understanding their subject, be it business, the market, banking, financial instruments or global trade. The examples you give are Utopian; since When has the government ever represented the Mass? It does not and it never has. It functions by each representative taking upon their shoulders to represent a patch-worked slice of the pie. It will be the same (and is the same) with any nationalized institution and most forms of government, unless it’s a form that forces it’s “expertise” on the People.
Sultanist says:
February 22nd, 2009 at 7:41 am
“the bondholders MAY be protected”
A large portion of my life savings is invested in a Bank of America corporate bond. It’s an Internote bond and is subordinated. Can anyone please elaborate and tell me why I “may” be protected and what would happen that could make me lose too?
Chester says:
February 22nd, 2009 at 11:02 am
Mission Impossible, You said so much with so few words. But now these people have your
Email address, Watch your Back !
C Mc says:
February 22nd, 2009 at 12:36 pm
Well you were wrong about Friday. BAC is so far from going under they had made the first of their TARP repayments.
You are going to be wrong about this in the long term as well. BAC and Citigroup are here to stay. It is comments like yours that are driving the prices so low. They will both rebound and be the stronger for all of it.
donkypunch1 says:
February 22nd, 2009 at 12:51 pm
“Maybe now Americans (and Westerners) who have spent unprecedented amounts of money (credit) on mass consumption of whatever they can get for the cheapest price -at the expense of countries in the South (labor, human rights, deep poverty, you name it!) will finally learn a lesson. Please rethink your way of life”
No way Viva…our way of life is non-negotiable and we will not apologize for it. Those whiny banks and d0uchebag underwater homeowners need to yank themselves up by their bootstraps the good old-fashioned American way.
Once we unfreeze the credit market, we will be able to continue to grow the economy, all we need to do is grow it infinitely and we’ll be able to prove how great then free market capitalists are, so eff off you poor b@stard…USA! USA! USA!
donkypunch1 says:
February 22nd, 2009 at 12:58 pm
“It is comments like yours that are driving the prices so low. They will both rebound and be the stronger for all of it.”
How weak is a bank that comments on a blog can bring the price down. The lying b@stards on teevee should be able to sh!tbag a bank for weeks on end, if it is strong (or even solvent–we got any of them kinds of banks still?), the balance sheet should be a lot louder than idiotic comments.
By the way, how is throwing billions of dollars into the hole that are “our” insolvent banks not nationalizing them. Oh that’s right, they don’t have to disclose anything about themselves and despite the tens of billions we somehow have no owneship share of them. Oh, that’s right, they’ll pay all that money bank with interest–it’s an investment…not to mention all the great troubled assets, they’re only “troubled” for the bank, since we now own them they are gonna be better than gold! We’d be stupid not to keep “injecting liquidity” and “lending to banks” in exchange for…whatever it is we are exchanging the loot for.
Peter J. Merkin says:
February 22nd, 2009 at 4:44 pm
At what point was it a good idea to give illegal aliens $400,000 mortgages? (Thanks BofA) I hope they fall hard and fast. Unfortuneately the employees, shareholders, and taxpayers will pay the price. The top super geniouses that ran it into the ground will fly off into the sunset in their private jets (taxpayer fincanced of course)
Nicols says:
February 22nd, 2009 at 7:43 pm
just go to google video and watch the esoteric agenda, has some interesting information.
Citi in Talks With Government | Charting Stocks says:
February 22nd, 2009 at 9:54 pm
[...] would include the government buying a 40% stake in the troubled bank. ChartingStocks.net was the first to report that the government would be taking Citigroup and Bank of America [...]
Failing bank is good says:
February 22nd, 2009 at 10:18 pm
After Citibank and Bank of America get nationalise?
Which bank is next in the list? Please prepare the list so that we can short the stocks and make money till our heart contend. Poor beggars on the street who short the list of bank stocks will become as rich as warren buffet with days. Come join in the shorting Spree. Money fall from the sky and make you instant rich man…………. simply short the bank
Frank says:
February 22nd, 2009 at 10:28 pm
The comments seem to be all over the sprectrum. Many raise good points, however I would like to address one particular theme. It concerns Jews and Israel. My feeling is that wealthy Jews exert an undue amount of political power in US politics. Saying this isn’t anti Semitic, rather it’s a statement of fact. While I admit some sense of solidarity and support for Israel (and I’m not Jewish) … I don’t wish to have wealthy US Jews hijacking Congress and directing Billions of dollars to Israel each and every year. Especially when this isn’t voted on in a singular fashion, nope…instead it’s buried in the budget where its sponsors hope that it goes under the radar. In the future I want aid to Israel voted on FOR EACH INSTANCE!
MTN BOY says:
February 22nd, 2009 at 10:45 pm
Do I still have to pay on my BOA and Citi credit cards?
Webtunnel | PenTestIT.com says:
February 23rd, 2009 at 2:29 am
[...] Gone in 60 Days: Citi and Bank of America Won’t Live to See May … [...]
walt235 says:
February 23rd, 2009 at 2:53 am
Have you noticed all the kike names involved in this financial debacle?!? Jooz are perps behind all the financial problems we are having! Jooz need to be exterminated once and for all!
faanunu says:
February 23rd, 2009 at 3:28 am
Damn it… I thought I left socialism in Sweden. If Russia is warning us of the evils of socialism maybe we should listen?
K8 says:
February 23rd, 2009 at 7:47 am
Gordon,
“I hope you come to realize just how wrong you are. Read the worlds best seller and see the promises made to Israel.”
Personally, I do not base my faith on a work of fiction…..written by mortal men. What you suggest cannot have occurred since Israel did not exist until 1940’s…..and it was the UN who “gave” Palestine to the state of Israel. Your “God” had precious little to do with it.
Omega says:
February 23rd, 2009 at 6:43 pm
You are all correct. We have been screwed, but keep in mind this goes beyond the corrupt politicians, bankers, lawyers, federal reserve thieves, Rockefellers, the Queen of England, Bank of England, Deutsch Bank (connected to Laura Bush and Mrs. John Kerry), Illuminati, Bilderbergers, Knights Templar, Skull & Bones, etc.. this is going to be difficult for some to believe, but, we had a chance to avoid this whole situation beginning in 1981. We were given 10 dire warnings and we have either chosen to ignore them or were intentionally distracted by the sinful fruits, drunkeness and lawlessness orchestrated by satan himself – I am no holy-roller.. I am an ordinary Catholic telling it like it is.. you can put me down, laugh or condemn this if you like, but I promise you all this is the truth. We have sold our souls via abortion, corruption, greed, theft, deceit, extortion, bribery, drugs, murder, pornography, and so on.. WE TOOK OUR EYES OFF THE BALL.. AND WE WERE TRICKED.
I also promise you this.. there will come a living hell on earth, “Three days of darkness” where 90% of us will perish.. All I can say is, prepare your family and home with blessed sacramentals and get prepared.. Also, look for the permanent sign coming soon in Medjugorje Yugoslavia.. Once that sign appears, hell will be unleashed – THOSE INVOLVED IN SCANDAL, CRIME, SIN WILL PERISH.. THOSE EVIL BANKERS WILL PERISH.. THEY WILL BURN IN HELL FOR ETERNITY.. ASK GOD FOR FORGIVENESS AND MEAN IT. YOU DON’T WANT TO GO TO HELL. ETERNITY IS FOREVER…
peter shim says:
February 23rd, 2009 at 8:47 pm
same actors, different costume, another play.
Treas says:
February 25th, 2009 at 8:34 pm
Bank of America? May as well be Bank of Mars. If one is going to name itself “America” then it has to be strong and withstand any onslaught. A private bank called “The Fed” or “America” are just tricky names of no substance who invest your money to pay offshore share holders. Nationalize the banks and start again. This time get it right. I say………….
Citi Gets Nationalized; Don't Call It Nationalization | Charting Stocks says:
February 27th, 2009 at 8:28 am
[...] last weeks post as we called for Citi and B of A to be taken over by the US gov within 60 days. One [...]
Ron Kaye says:
February 27th, 2009 at 10:06 am
You Jew haters are something else look at Germany before the war it took a shit load of
marks to buy bread. Thats how Hitler got into power poverty makes weird bed partners and thats how you control the masses . Obama may want to spend the $$ let him its not worth the paper to print .it. Look at every wa….r just make sure he spends it the proper way in the future boy if Mosses just made a right turn when he entered the promised land all the oil would be at least controlled by someone we can trust and that does not let their own people suffer for over 50 years in refugee camps. LOOK at the $$ Saudi Arabia and Dubai have made on oil why did they not take 1/8 of that income and educate and feed their people. THIS COUNTRY HAD OPEN BORDERS for immigrants that had to learn the language
and customs of AMERICA and we prospered as a nation and educated them selves to get
ahead NOT LIVE OFF OF THE STATE. LOOK if you think short term like our companies do for the immediate short term gain we as a people will go down the tubes we did it in the 60s STAND UP AGAIN BE COUNTED WE CAN CONQUER THIS B.S. BUT DO NOT START TO BLAME THE JEWS AS SCAPE GOATS WE MUST SOMEHOW WORK FOR CHANGE IF YOU SEE A HOME LESS PERSON DONT GIVE $ TAKE HIM FOR A MEAL
SPEND A COUPLE OF $ . IF HE REFUSES THAT TYPE OF CHARITY HE IS LOOKING FOR A HANDOUT AND DOES NOT WARRANT OUR HELP. SEND HIM OR HER TO
A CHURCH OR SYNAGOGUE FOR A PLACE TO STAY FOR THE NIGHT OR TO GET PART TIME WORK OF SOME TYPE.. I ONCE LIVED IN A 1/2 MILLION $$ HOME AND NOW LIVE IN AN APARTMENT AND WENT FROM A BANKER TO SELLING HOT DOGS
BUT THAT IS WHAT MAKES AMERICA FANTASTIC YOU CAN ALWAYS START OVER
AND WE AS A COUNTRY WILL DO IT AGAIN STAY POSITIVE OH GOD STAY POSITIVE.
Citigroup Stock Costs Less Than Their ATM Fee | Charting Stocks says:
February 27th, 2009 at 3:52 pm
[...] week, we warned that Citigroup and Bank of America would most likely be taken over by the US government within 60 days. Our prediction proved to be optimistic by 58 days, in Citi’s [...]
Brad says:
February 28th, 2009 at 8:18 am
Upshaw. Help yourself to the Kool-Aid, recommended by the experts who have dedicated their lives to discerning what’s in our dumb-ass collective best interest. What’s that? Oh, you already drank it. Silly me!
Your comment is truly one of the nuttiest things I have ever read – I mean ever. Since when are bankers, CEOs, politicians, policy-makers and their public-relations partners in the media educated, trained, obligated or inspired to act for the benefit of Americans (what to speak of humans) as a whole. They are interested only in advancing their own power and wealth at the cost of all other human life. They are rapidly destroying this world and our ability to co-exist within it. It is this mentality and the power structures that nurture it that must be changed if we are to survive.
Citigroup Stock Costs Less Than Their ATM Fee | MATADOR NINETY-FOUR says:
February 28th, 2009 at 8:35 am
[...] week, we warned that Citigroup and Bank of America would most likely be taken over by the US government within 60 days. Our prediction proved to be optimistic by 58 days, in Citi’s [...]
Citigroup Drops Below $1 on Massive Volume | Charting Stocks says:
March 5th, 2009 at 11:27 am
[...] at a high of $57 only 15 months ago and hit a low of 97 cents today. Two weeks ago we warned that Citigroup and Bank of America would be taken over by the government within 60 days. Last week, after initial denials, Citi announced that the government was buying 36% of the common [...]
The Financial Brand » Blog Archive » Massive bank failures are on the way says:
March 9th, 2009 at 5:25 am
[...] people speculate that either Citi or BofA are next. If either one failed, that would slam the fund for as much as $500 billion according to some [...]
Joe Banker says:
March 9th, 2009 at 8:44 pm
With all due respect to Charting Stocks but your prediction is not bold but rather, just advertising. It’s definitely a good way to get someone to look at your site when most otherwise would not. Yea, why shouldn’t you jump on the bandwagon of sensational ignorance? It is not risky bet to say that Citibank may well become completely nationalized; their subprime issues have been well known for some time. Gee, you guys really enlightened me there. However, it’s complete nonsense to assume that BofA would go that route. Most are apparently ignorant of this but BofA never got into subprime; Citi did. Nearly all of the bank and non banks that did subprime are already gone. The vast majority of BofA’s loan losses have come from the CountryWide acquisition. What is Charting Stocks going to say when BofA posts a 1st qtr 09 profit? And every qtr after that in ‘09? Oops my bad; I suppose. The government has recently made it clear that is has no interest in nationalizing banks; it has enough problems to deal with already. It would only be done as a last resort. BofA has enormous loan loss reservers (see web site) and CountyWide is now bringing in huge revenues due to refi activity. I see the ML acquisition as a bad call, however, since the feds have covered BofA on an addtional 118B in potential losses-how can they not survive? When the economy starts to turn next year and it will; BofA and others that have weathered the storm will slowly turn their loan loss reserves into profits; I’ll be thinking of this article. I’ve print off of a copy to put beside my stock statement in a few years and I’m looking forward to it. Do your research people; I can get this kind of advice from any idiot on the street.
Jeffry Pilcher says:
March 10th, 2009 at 8:41 am
Many of the readers commenting at this site are plain mean, rude and abusive. It seems like few can make a point without being totally self-righteous, arrogant, condescending, judgmental assholes. Which is unfortunate, because the content here is thought provoking. The shitheads unnecessarily spoil the site. Why can’t people be more polite when disagreeing with someone’s point of view? And why do all the assholes comment anonymously. Joe Banker is just one more of the cowards couching his big talk in a pseudonym.
Jeffry Pilcher says:
March 10th, 2009 at 9:30 am
@chartingstocks1 – Here is another great site that was seeing too many negative and abusive comments, and how the admin chose to handle it:
LINK1: http://www.underconsideration.com/brandnew/archives/cracking_down_on_comment_crime.php LINK 2: http://www.underconsideration.com/brandnew/archives/comments_the_day_after.php
chartingstocks1 says:
March 10th, 2009 at 10:42 am
do i spot some obvious BofA shills?
chartingstocks1 says:
March 10th, 2009 at 10:44 am
thanks Jeffrey…think we’ll need to implement the same policy
Jeffry Pilcher says:
March 10th, 2009 at 11:31 am
@chartingstocks1 I’m rooting for you. I really like this site and the content you’re putting out. I’d just like to see the discussions be as intellectually stimulating as the articles themselves. (FYI – Incidentally, I have a post that’s all charts on my website today.)
James says:
April 17th, 2009 at 3:01 pm
Great prediction! You missed the biggest bank rally from March 9th until now!!! What a fool. I hate it when people so arrogantly claim they can predict the future – then WHAM – they end up making a dumb call.
Jim S says:
May 1st, 2009 at 11:56 pm
So much for a bold prediction.
Hardy says:
May 7th, 2009 at 7:52 pm
So much for a prediction. Citi is still alive. And BOA is still alive.
horitb says:
May 19th, 2009 at 11:25 am
what a retarded prediction. i completely agree with “joe bankers” post. and yes BAC posted one of the highest Q1 profits amongst other banking behemoths. BAC never got into the subprime mess. They are , in fact , cleaning it up.
BAC is THE world’s largest financial services company and has a very bright future ahead under Ken Lewis’ able leadership.
Gennariello Squazzaglione says:
May 29th, 2009 at 1:09 pm
Corrado Abbattista ex Morgan Stanley, mafia’s money laundrier nr one in the world….after Sivlio Berlusconi….obviously
//////Corrado Abbattista ex Morgan Stanley e´un enorme riciclatore di danaro mafioso, oltre che ladrone corrottissimo. Ricicla killing mafia’s money per varie cosche di Gioia Tauro, piu´, per Matteo Messina Denaro, via, avvocato siculo assolutamente di Cosa Nostra, suo “ amicissimo aaa” : Nino Battaglia. La sua lavatrice finanaziaria puzzona a Londra, si chiama, anzi, si scrofa: Fenician Capital Managment. Inoltre, il delinquente viscido e mafiosissimo Corrado Abbattista ex Morgan Stanley ( gran porco mafioso nel manipolare posizioni futures di grandissimi Democrats e quindi puzzone market abuser) e´un massone nazista. Non per niente e´ noto a tutti come “el massonazista mafioso Corrado Abbattista”, ed e´dedito a preparare una nuova stagione di terrorismo nero super killer in Italia e non solo. Come faccio a saperlo? Mi ha detto tutto cio’ “stinky little rat” Michael Chinnick ex Morgan Stanley pure lui, allorche´mi telefono´a Posillipo, da Tokyo, ove egli ora lavora. Occhio a cercare di far fessa la gente, perche´qs e´solo la punta dell´iceberg, il resto, pur lo esplichero’. Salutiamo tutti i veri Democrats, tutti quelli che al ma..f..ascismo di Silvio Berlusconi e a suoi porci nazicamorristi della finanza varia, tipo sto mafioso massonazi ladro porco Corrado Abbattista, ex Morgan Stanley, dicono no, y che no.
Gennariello Squazzaglione, Napulitana investigations, Naples qrtri Spagnoli, Ita
David Fair says:
June 25th, 2009 at 12:19 pm
I only read the first few comments, but what a bunch of clueless blunderers. Of course the financial markets will rebound wildly. This is where the power exists throughout the world. The government bailout of these institutions proves who really has the power. What a brilliant scam. I have invested in B of A, and looking to put something into Citi. I’ve already made a bundle just sitting here on my ass. Whine and complain all you want about right and wrong and Karma, I’ll keep raking in the cash while you complain.
Randy West says:
August 16th, 2009 at 12:01 pm
Nice call on BAC and C in your 2/19/09 article about “they won’t see May.” They are BOTH UP 400% !! Ah, stock market predictions and newletters…… unfortunately (for the investing public) your mistakes,like Jim Cramer’s mistakes, rarely are remembered by the public. That’s too bad…..it would change how we/they view your advice in the future.
Joe G says:
August 30th, 2009 at 2:03 pm
Its funny to look back on this prediction now. Should be a lesson for you. Maybe cut back a bit on the ‘boldness’
David Fair says:
September 9th, 2009 at 1:49 pm
ha ha! what a joke. absolutely clueless.
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