As Chrysler works against the government clock, it seems as they have come up with a plan that might keep the automaker out of bankruptcy court. Chrysler’s unsecured creditors have reached a preliminary agreement with the Treasury Department and United Auto Works which will change the ownership structure of the company, and keep them making [...]

You never know, it might be a good thing. This way they can transfer ownership to Social Security administration and we can get what Bush wanted all along, our safety net in the hands of Wall Street. Because they’re so good a managing money!
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If a business is not working correctly, the system already has a [...]

There is an old feeble that we read to children in the hopes of teaching them a lesson about life; A little boy scrams out that he saw a wolf, just to get everyone’s attention. After doing it a few times, and having all the towns people come to his rescue the town’s people catch [...]

The era of the super financial has come to an end, at least for Citibank.
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Citigroup Inc will split into two companies. Citicorp and Citi Holdings, reverting back to running a banking business.
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“The new structure will have the bank operating without the burden of billions of dollars of toxic assets accumulated during the mortgage bubble [...]

Citigroup’s Smith Barney and Morgan Stanley’s Brokerage operation are close to deal. This move would create the largest retail brokerage company, surpassing that of Bank of American who became number one with mergers this year.
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As the financial crisis of 2008 continues into 2009, this transaction will be seen as a large step throws divesting [...]

Why Banks Fail reported on credit cards back on October 30, 2008 in Credit Card Crisis — How we will feel it at home.
One of the concepts we wanted to be clear, is that all of the banking crisis issues we have been seeing, has mostly affected a subsector of the US economy, banks and [...]

The Saudi Prince has spoken, but it’s not enough to help Citigroup out of the downward plunge it is on.  Citibank opened 4% lower, but it got much worst as the day went one. Losing more then 26% to trade close the day at 4.71
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Breakdown: Citibank Losses

$20.3 billion in losses on declining mortgages and bad [...]

Bloomberg.com reports Citigroup’s Pandit to Reduce Headcount by 50,000, Cut Expenses.
After many other job cut announcements, Fidelity cuts 1300 jobs (and many more job cuts), here comes a big one.  Citigroup announces that it will reduce expenses by 20 percent, and cut 14% of its workforce. Â
Citigroup (NYSE:C 9.52 on 11/17/2008) is helping the rest of [...]

Lets throw out the basic facts:

Wells Fargo (NYSE:WFC $31.30 on 10/22/2008) has a market cap of $103.95b, has lost 13.39 since its 52wk high.  That is about 42% of the current stock price (an initial drop of 30% from the 52wk high)
Wachovia Corporation (NYSE:WB $5.71 on 10/22/2008) has a market cap of $12.33b, has lost 88% [...]

We’re all thinking it. Will Citigroup fail?
Well, lets take a look at the stock compared to the others that have failed.
Take a look at Citigroup’s stock pricing on Google Finance (EHD).

Citigroup’s 52 week YTD high was $10.03. Currently Citigroup is priced at $7.15.  Yes, Citigroup has gone down 15% in trading today (October 10, 2008).  Citigroup [...]

We’ve been following Wells Fargo and Wachovia before, here’s an update:
Wells Fargo buying troubled Wachovia for $15.1 billion, by the Houston Chronicle.
Wachovia ended talks with Citigroup, who was looking pretty good earlier.
If you own Wachovia stock, you will get 0.1991 shares of Wells Fargo for each share of Wachovia.
The big news, is this has all [...]

Depending on where you read, either Citigroup is currently leading the initiative, or Wells Fargo is.
Either way, it’s going to be yet another interesting week with Fortis on the chopping block recently.  The last word I had read, was that each of the three governments will be buying out 49% of the local operating Fortis [...]

Everyone’s trying to get past the early part of the week.
Could it be true that we will face even more bank failures? Â
CBSNews reports that Washington Mutual Inc. and Morgan Stanley may have turbulent times ahead:

Wall Street Swings Day After Meltdown, CBSNews 

According to the article:

Wells Fargo & Co. and Citigroup Inc. are interseted in a [...]