Hart aber Fair !
Bzw. für das Flaschenpfand gibts dann ja auch schon wieder 4 Aktien ;-)
Ohne die VW würde die Bodenbildung jetzt auf 3 Beinen stehen, mit einem umteren spike am 28.10.
Freue mich auf eine neue Woche mit euch...Bis denne
MfG PB
Citigroup: Government Now Said To Have Cold Feet
Update 2: Sources with knowledge of the deal say government officials are now getting cold feet over the plan to buy the troubled assets from Citigroup.
Situation is still fluid and people close to the company say some sort of a deal will likely be worked out tonight. one other option being considered now is for the government to put money into citigroup.
The problem with buying the assets from citi is political: people close to the deal know that other firms will line up and ask the government to purchase their troubled assets as well knowing that all brokerage stocks got crushed when treasury secretary hank paulson reversed his plan on the tarp to direct capital infusions to the banks and away from buying troubled assets.
Bottom line: this is very fluid and the situation may change again, but as of now government getting cold feet on plan to buy troubled assets, which leaves direct capital infusion on the table.
Update: The government is looking to buy a substantial amount of assets from Citi, similar to a good bank, bad bank structure. The government would absorb much of the losses for Citi if there are losses and Citi would issue preferred stock to the government. The deal is not finalized but could be announced tonight.
While the Feds could buy more than $100 billion nominally in the bad assets if the plans go through, that doesn't mean it will pay Citi $100 billion, depending on the final valuation of those assets. According to people with knowledge of the discussions between Citigroup and the government, the plan for Citi resembles the original TARP proposal, in which the government would buy bad assets for financial firms at some price higher than what's being offered in the market.
People close to the matter underscore that none of this is a done deal: Other deals, such as the Lehman Brother Good bank / Bad bank proposal blew up at the last minute. Citigroup had no immediate comment. CNBC is still waiting on comment from the Treasury and Federal Reserve.
Reports from Washington say the White House is unaware of any government talks with Citigroup. It also declined comment on whether President Bush would back a government rescue of Citigroup.
Citi officials are reportedly working on a plan that could include a capital injection from the Federal government—among other possible ideas. The details have yet to be hammered out and it's not clear when such a plan would be announced.
Officials from Citigroup [C 3.77 -0.94 (-19.96%) ] and the government had been discussing ways to stabilize the company's stock price over the weekend.
As of Saturday afternoon, the general consensus between officials from Citi and government officials from the US Treasury department and US Federal Reserve is that the government will not takeover Citigroup in the way it took control of AIG—by lending the firm massive amounts of money and in return assuming a huge equity position.
Government officials fear taking over Citigroup would create a precedent: Unlike AIG, Citigroup's balance sheet is relatively healthy, with relatively strong levels of capital particularly compared to most of its competitors.
Charles Gasparino
On-Air Editor
Still, officials from the Treasury and Citigroup are unsure what it would take to restore confidence in the company, including a possible smaller capital injection or some sort of statement that Citigroup is financially sound.
For that reason, Citigroup officials are continuing to explore possible merger possibilities and a spin off of some of Citigroup's businesses, even as CEP Vikram Pandit publicly stated the sale of the firm's massive and coveted broker business, Smith Barney is off the table, these people say.
"CNBC Reports: Saving Citi" Tonight, Sunday Nov. 23rd, 8pm - 9pm EST
Both officials at Citigroup and in the government concede the situation facing Citigoup is daunting. Because of Citigroup's size and scope—it operates in just about every country and competes in just about every financial business, the company's survival is a national concern.
Citigroup has spent the past week telling investors that its capital position is strong, but investors have lost confidence in the current management led by CEO Vikram Pandit who has been in the job less than a year, and the firm's board, which appeared to ignore widespread calls by analysts to integrate the firms operations and slash its massive workforce until recently.
Meanwhile, various merger possibilities seem slim. A deal with investment banks Morgan Stanley [MS 10.05 0.85 (+9.24%) ] or Goldman Sachs [GS 53.31 1.31 (+2.52%) ] would create massive overlap and would lead to huge layoffs. There aren't many banks with a strong deposit base that Citigroup can buy with its depressed stock price.
Pandit, for his part, has cut the workforce to 350,000 from 375,000 and just announced another 50,000-job cut by early 2009. But for investors, those moves were too little too late. Nearly a year ago, Citigroup's share traded at around $50. On Friday they traded at $3.77 and failed to rebound even as the Dow Jones Industrial Average of large company stocks spiked nearly 500 points on the news that President-elect Barack Obama will name NY Fed President Tim Geithner as his new Treasury Secretary.
Citigroup's Ills May Signal Market Isn't Near Bottom
Because Citigroup is a bank it has access the the Federal Reserves discount window, and because of its size, there is virtually no possibility of the bank failing and filing for bankruptcy as investment bank Lehman Brothers did. "Citigroup is too big to fail; the government wont allow that because the firm is involves in so many business both institutional and consumer around the world," said one bond trader with detailed knowledge of Citigroup's operations.
Investor fear remains deep despite one-day rally
But the lack of confidence coupled by the falling stock price could pose other problems, such as a run on bank deposits, where worried depositors yank their money from their Citigroup accounts, or investors pulling their funds from their Smith Barney brokerage accounts. A Citigroup spokesman declined to say if the company is experiencing either of those scenarios.
For that reason, Citigroup officials continued to work over the weekend to possibly unveil some sort of plan of action by Monday morning. "Everyone knows saving Citigroup is important to saving the economy, but no one knows what to do," said one person close to the firm.
Die Futures reagieren extrem...Der Aussifutu , ist gerade 3% zurückgegangen... DAS WIRD BÖSE...Das sage ich selten , aber hier fliegt uns bald einiges um die Ohren, das ist nicht mehr witzig !!!!!!!!!!
Aber letzlich kann es irgendwann nicht mehr weiter runtergehen. Die Dividenden bleiben dem Index erhalten und auf Null werden die WErte auch nicht fallen.
mal sehen wie es morgen weitergeht...
Gruß kaktus
Wenn das schief geht, dann sage ich HALLO 2000 im Dax... Ganz Ganz dünnes Eis hier !
:20 p.m.
[C] Citigroup-U.S. deal would create 'bad' bank: WSJ
6:20 p.m.
[C] Citigroup, U.S. government near bailout deal: WSJ
marketwatch.com
Tokio Marine Holdings slumped 36% after Japan`s biggest insurers slashed their profit forecasts. PT Bumi Resources tumbled 39% as investors who borrowed to buy the stock of the Indonesian coal producer sold to cover losses.
Hong Kong`s Hang Seng index fell 419.71 points, or 3.32%, to trade at 12,239.49.
China`s Shanghai Composite decreased 21.60 points, or 1.10%, to trade at 1,947.79.
Taiwan`s Taiex index fell 57.68 points, or 1.38%, to trade at 4,113.42.
South Korea`s Kospi index slipped 18.47 points, or 1.84%, to trade at 985.26.
Singapore`s Straits Times slid 31.17 points, or 1.88%, to trade at 1,630.93. (7.51 a.m., IST).
Dow Industrials futures point to stronger open, up 51 points
12:39 a.m.
S&P 500 futures point to stronger open, up 10.8 points
Sydney, Mumbai come off lows on Citigroup rescue
By V. Phani Kumar, MarketWatch
Last update: 1:01 a.m. EST Nov. 24, 2008HONG KONG (MarketWatch) -- Asian markets mostly declined Monday as financials such as HSBC Holdings paced losses on global financial worries, but banking shares helped a recovery in Sydney and Mumbai after the U.S. government agreed to inject additional capital into Citigroup and guarantee the banking giant's assets.
Japanese markets were closed for a holiday.
Australia's S&P/ASX 200 index rose 0.4% to 3,428.30 by late afternoon, reversing direction after shedding 1.6% earlier in the day.
In Mumbai, the Sensitive Index, or Sensex, gained 0.6% to 8,972.63 by mid-morning, also changing direction.
In Seoul, the Kospi pared losses and was recently down 0.8% at 995.91. Taiwan's Taiex also recovered some lost ground and was recently 0.3% down to 4,159.93.
The recovery came on news that Citigroup (CCitigroup, Inc
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C) and the U.S. government reached an agreement to rescue the beleaguered financial giant with a plan that could lead to government guarantees of as much as $300 billion of Citi's troubled assets, according to a Wall Street Journal report. The plan also involves a $20 billion capital injection with an 8% interest rate, the report added. See full story.
Shares of Westpac Banking Corp. (WBKWBK
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WBK) (AU:WBC: news, chart, profile) bounced 1.8%, while Commonwealth Bank of Australia (CBAUFcommonwealth bank of austral shs
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CBAUF) (AU:CBA: news, chart, profile) pared losses and was recently 2.8% lower in Sydney trading.
In Mumbai, State Bank of India shares rebounded from their early lows and gained 2.5% by mid-morning, while ICICI Bank (IBNicici bk ltd adr
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IBN) stock narrowed losses and was recently down 1.5%.
In Seoul, shares of Shinhan Financial Group (SHGshinhan financial group co l spn adr restrd
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SHG) cut losses and were recently down 2.1%, Korea Exchange Bank jumped 5.2% and Industrial Bank of Korea advanced 4%.
Elsewhere, Hong Kong's Hang Seng Index ended the morning trading session down 1.2% at 12,508.52, while the Hang Seng China Enterprises index lost 0.3% to 6,403.65.
China's Shanghai Composite index gave up 1.6% to 1,937.70.
Conita Hung, head of research at Delta Asia Financial Group, said investors were disappointed after the Chinese government and central bank didn't announce an interest rate cut, or other stimulus measures, over the weekend as investors anticipated.