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Reply #18: I have a relative that works for Citibank [View All]

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wilsonbooks Donating Member (16 posts) Send PM | Profile | Ignore Wed Nov-26-08 11:35 AM
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18. I have a relative that works for Citibank
They were back here (rural Missouri) over a year ago for a funeral. This relative is very high up in the bank (Harvard Mba 1980). I told them that the talking heads and the economists that were telling us how wonderful the economy was going were full of shit. I asked them to spend an hour at the local Walmart and see if the people there looked like they were sharing the wealth that was supposed to be trickling down from the booming stock market. I told them that there were over 2000 unsold homes in our little housing market. I asked how much the bank was exposed to the mortgage market and the derivative market. They told me that the bank had sold the bad paper to Europe.
Now either they were not telling me the truth about how bad the bank was exposed in order to not give any inside information or they did not know that the bank was going to soon be bankrupt.
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