Saturday, October 04, 2008

Citi Girds for Wachovia Takeover Battle with Wells Fargo

I am pretty well convinced that if Citi doesn't get Wachovia's cash deposits it's only a matter of time for them. IMHO the FDIC approved the Citi/Wachovia deal because it couldn't let Citi and Wachovia both fail. It looks like Buffet has decided that Citi needs to fail. FTW did much reporting on Citigroup and drug money laundering, plus its close and historical relationships with intelligence services like CIA. But I think that Citi is part of a faction that is losing out in the game of musical chairs. I would not bet a penny against anything Buffet tries to do at this moment.

MCR
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9 comments:

Unknown said...

Will the rest of the world finally understand the magnitude of this gigantic bubble..

Whats ACT 3 ?

Is it comming now ..

WW3

Mike2

12:25 PM
Peter J. Nickitas said...

It seems to me that Mr. Buffett has put significant sums on Wells Fargo and U.S. Bancorp (3.9% of U.S. Bancorp shares are owned by Berkshire Hathaway). What do you think on Wells Fargo's and U.S. Bank's prospects? I thought about this on review of your posting on the sum of Wells Fargo stock owned by Mr. Buffett.

2:04 PM
Unknown said...

Mike, you have mentioned Warren Buffet a lot in your blog posts. I did a search on ftw, and I only got a couple returns.

Would it be possible to break it down? Is Buffet pulling strings or is he reacting to his inside knowledge or both?

3:38 PM
businessman said...

Here's a link to a video of an interview with Warren Buffett earlier this week where he discusses both the Bailout and the current state of the U.S. economy:

http://www.charlierose.com/shows/2008/10/1/1/an-exclusive-conversation-with-warren-buffett

5:40 PM
Unknown said...

Solutions to our present way of living and thinking are offered in the online documentary "Zeitgeist Addendum"

http://video.google.com/videosearch?q=zeitgeist+addendum&emb=0&aq=0&oq=Zeitgeist+A#

In my humble opinion, it`s worth 2 hours out of your busy schedule.

9:44 PM
Unknown said...

What I found interesting on the FTW site was the comment:

"Or, when the new energy bill is signed by George W. Bush, Big Oil (along with Warren Buffett) might just start buying up every major power and water utility in the country. They will be allowed to do that now for the first time since the Great Depression.

Aug. 5, 2005"

Interestingly, Warren has in the past year or so invested in railroads (transportation), Goldman (on the edge of "last man standing" in the big financial market), CEG (energy), and GE (disclaimer: I work for GE and own BRK-B) - who builds train engines and does business in wind generators.

Its obvious he's "seen the writing on the wall", just read his last few years annual reports - he predicted a lot of whats happening now years before. He's positioning himself for the fall (peak oil: rail is far more economical than trucking, energy).

11:06 PM
Andrea Muhrrteyn said...

Mike2,

I imagine Lenny Bruce might conclude; if enough of the world can understand this *777* bubble, it may bring down the curtains with an appropriate Third Marene ovation; prior to Act 3.

KKK Poker Linguist

7:09 AM
steve said...

mike,

So glad your back, shame your not back fulltime analizing - but i understand. Are you aiming for your second book to be released in 2008, or is 2009 more likely. I cant wait.

7:46 PM
DLW said...

Citigroup claims 60 billions from Wachovia/Wells Fargo for a broken contract ... What Mike sees goes ...

10:21 AM

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