You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

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

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Editorials & Other Articles Donate to DU
wilsonbooks Donating Member (16 posts) Send PM | Profile | Ignore Wed Nov-26-08 11:35 AM
Response to Original message
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.
Printer Friendly | Permalink |  | Top

Home » Discuss » Editorials & Other Articles Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC