Survivalist Forum banner

1 - 7 of 7 Posts

·
Registered
Joined
·
252 Posts
Discussion Starter #1
As I understand, Wachovia bank has been taken over by Citibank. Just today I was out and heard the news from others in line at the market.
Came home and tried to call the local branch. They would not answer. All calls were forewarded to Charlotte customer service. They said they were just busy, but I kept trying and never got the local branch. The girl kept saying "oh , nothing to worry about, it's a normal smooth process to change from one bank to another. " i wonder if she would still think that next week if she were out of a job.

I have a checking account there . I have trimmed it down so the minimum balance has been there for weeks. Most of my loose cash has been put into real goods. Food, meds, and fuel.
 

·
Registered
Joined
·
207 Posts
I also use Wachovia. I want to pull my $ out but the wife is not wanting to so I guess its staying in for now but I'll tell you this if she thinks my next pay check in going into that bank she has another thing coming.
 

·
Registered
Joined
·
4,318 Posts
I also use Wachovia. I want to pull my $ out but the wife is not wanting to so I guess its staying in for now but I'll tell you this if she thinks my next pay check in going into that bank she has another thing coming.
why not some in some out that way she wont complain so much
 

·
OBAMA Sucks Smokin Weed
Joined
·
297 Posts
CitiBank is backed by Dubai Arabs so you should be in good shape. lol

Citibank - Can it be third time lucky with the Arab money???

Citibank has recently been rescued (literally) off the subprime (with a potential $11 billion writeoff) .. fallout that it faces. Although heads have rolled, there seems to be an inclination to look towards the Arab world… is it not a trend??? or is it the overflowing Arab pockets that attract the incompetent bankers.

I think it is time that Citibank puts its house in order.. I mean bring in some real bankers… what a shameful act!!!

Of the world’s biggest lending market that is the United States, Citibank couldn’t find a single entity who would believe their story… not one time but twice…and then yes.. easy Arab money came to the rescue. There are at least some benefits of these high oil prices :)

First bail-out:

16 years ago

Reason: Loan losses in Latin America and a collapse in U.S. property prices

money injected: $580million

financier: Prince Alwaleed bin Talal of Saudi Arabia

He makes it clear in his biography that he saved the bank from a clear bankruptcy. Book review from Citigroup’s former chairman and chief executive officer, Sandy Weill states, “It is interesting to relive the story of how Prince Alwaleed stepped in to help save Citibank. Until now, only a few people knew the full story. The book captures the drama and explains it clearly”

Second Bail out:

November 2007

Reason: Potentially $11billion additional write-off due to collapse of US sub prime loan market

money injected: $7.5 billion

financier: Abu Dhabi Investment Authority - ADIA (an Investment company of the Abu Dhabi government)

What a shame!!!

Can they learn from the past and will they be third time lucky… ?????

Tailpiece:

ADIA “will bolster Citigroup’s capital and competitiveness,” U.S. Senator Charles E. Schumer said in a statement. The New York Democrat was among the lawmakers who criticized the Bush administration’s decision last year to approve DP World Ltd.’s $6.8 billion acquisition of London-based Peninsular & Oriental Steam Navigation Co., a deal that gave the Dubai state-owned port company control of six U.S. terminals.

Schumer was among those who said Dubai ownership would jeopardize U.S. national security, arguing that two terrorists involved in the Sept. 11, 2001, attacks were from the U.A.E.

Link: http://www.bloomberg.com/apps/news?pid=20601087&sid=a0X4zgNm8Ibs&refer=home

Yeah… we can take a U-turn when it is all about saving the hard-earned money of US citizens… or shall we say saving the American economy from going into a recession :)
 

·
OBAMA Sucks Smokin Weed
Joined
·
297 Posts
So what is this Iraq war and Afghanistan War really about?
How is it that CitiBank was saved 3 times and now is holding the strength. Isn't the wealth coming from us filling gas tanks and spilling our blood.

hmmm...

Perhaps it is just me but anyone else seeing the public going to sleep on this?
Hope I am wrong but who is the puppet and who is the master?
He who controls the purse pulls the strings. Learned that from watching the Godfather. lol

We made them rich and are now becoming their subjects to rule by our own decisions.

Are funding our own demise by giving to Al Queda?
WTF!!
 
1 - 7 of 7 Posts
Top