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lufc

Citigroup To Post Deeper Than Expected 1q Loss,oppenheimer Says

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Been out of the HPC loop for a few weeks and don't know if this has been posted before (Bear Stearns etc etc) or in any other related topics, but I get the distinct feeling that further Gitigroup problems could push the situation over the edge.

http://money.cnn.com/news/newsfeeds/articl...69_FORTUNE5.htm

...would be useful to have detail of what these writedowns represent... <_<

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According to a recent article by Irwin Stelzer for the Sunday Times, the Fed have a reserve of $400 bn of which $200 bn of funding has already been swallowed up.

http://www.timesonline.co.uk/tol/comment/article3571433.ece

"Unfortunately, that is rather like bailing out the ocean with a teaspoon; the Fed’s $200 billion, even all of the $400 billion of its remaining holdings of Treasury notes, counts as little in the $11 trillion mortgage market." says Irwin.

Thems in the sh!t I thinks.

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A drop in the ocean :blink:

On a complete tangent, here's a quick google by numbers

11 trillion :ph34r:

It's only 118,335.7 Astronomical Units.

1 AU = 149,600,000 km = 92,960,000 miles

Definition: An Astronomical Unit is the mean distance between the Earth and the Sun. It is a derived constant and used to indicate distances within a solar system. The Earth orbits at a distance of 1 AU from the Sun.

And for a scale more down to earth;

Wiki Zimbabwe Inflation

Money supply (2006-2008)

On 16 February 2006, the governor of the Reserve Bank of Zimbabwe, Osborne Gono, announced that the government had printed ZWD 20.5 trillion in order to buy foreign currency to pay off IMF arrears [15]. In early May 2006, Zimbabwe's government announced that they would produce another 60 trillion Zimbabwean dollars. The additional currency was required to finance the recent 300% salary increase for soldiers and policemen and 200% increase for other civil servants. The money was not budgeted for the current fiscal year, and the government did not say where it would come from.

Oh my!

Edited by Ursus

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  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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