My wife asked a good question today. Re the Citi results that delighted the market - is it BS?

[NRaleighLiberal]

Meaning - and this is what my wife said - "why do we believe what any of these companies say when it is obvious they all lie".

Interesting point, methinks - and reinforces what bullshit the whole stock market/financial results thing is anyway.

[burythehatchet]

1. Word has it that today was a banner day, and FOUR suckers were born.

[FiveGoodMen]

3. On an average day, 1440 suckers are born

[mdmc]

2. I had a free checking account with citi

now they charge me 6 bucks unless I use my debit card 6 times per month.

So every once in a while, they get me for some cash.

They do it enough, they profit.
They do it too much, people will back at Citizen's Bank.

[marketcrazy1]

4. it probably is BS

these comments by Pandit were non GAAP estimates and he went on to clarify that any gains may be partially or completely offset by losses, write downs and additional loss reserves... of course we did not hear THAT part of his comments mentioned in the days media reports!!!!

[Minimus]

5. My thoughts exactly - just because the CEO says a profit was made does not make it so.