Citi posts 5.1 billion $ loss?

For just about anything you want to get off your chest about credit cards.
5 posts
Roni
Gold Member
Gold Member
 
Posts: 25
Joined: Sat Apr 19, 2008 3:40 am
Location: Indiana

Citi posts 5.1 billion $ loss?

Postby Roni » Sat Apr 19, 2008 3:46 am

"April 18, 2008, Citigroup (NYSE: C) Reports Net Loss of 5.1 Billion For First Quarter, -$1.02 per share"

What does everyone think of this? It's one creditor after another that's taking hits. I wonder if we've seen the worst of it yet or if there's still more bleeding to go?

Apparently Citi's loss was "primarily" because of "fixed income" and "higher consumer credit costs" so I wonder if people are defaulting on payments of their credit cards too?

Citi has treated me pretty well so they're not a company I want to see bleed. No there's another credit card company I'd love to see hurting but I won't say their name. :ppp


vitamin-c
Green Member
Green Member
 
Posts: 4
Joined: Sun Apr 20, 2008 4:57 pm
Location: ohio

Postby vitamin-c » Sun Apr 20, 2008 5:17 pm

Well Wachovia only posted a $350 mil loss first quarter so they're doing great too :ppp

User avatar
Cucumber
Centurion Member
Centurion Member
 
Posts: 567
Joined: Tue Apr 22, 2008 12:44 am
Location: Zuma

Postby Cucumber » Wed Apr 23, 2008 1:37 am

Seems like all the big financial companies are taking whoppers of hits. I mean bear stearns was like the 5th biggest investment bank in America and they just collapse out of no where. I think the big gamblers (like Bear Stearns) will go but everyone else seems to be hedged pretty good to limit their hits. I'm sure they'll be okay but will just go through tough times for a few quarters.
OBAMA
Stop talking crap about him!

User avatar
fffresh
Centurion Member
Centurion Member
 
Posts: 416
Joined: Sat Apr 26, 2008 9:12 pm
Location: the edge of the world

Citi still needs more funding?

Postby fffresh » Thu May 01, 2008 8:03 pm

I read on CNN's website that Citi is actually looking to raise more money now and this is on top of a surge of big outside funding they already got. I wonder if they're really in that bad of shape? They might just be doing it to be safe.

magyar1045
Centurion Member
Centurion Member
 
Posts: 158
Joined: Thu May 29, 2008 4:05 pm
Location: California

Postby magyar1045 » Fri Jun 06, 2008 3:18 pm

Am not heartbroken about Citi's "big" loss. On the evening of September 10, 2001 I mailed off my payment to them. Because of what happened on the 11th, mail didn't go anywhere for a few days. Bingo - these bums actually hit me with a late charhe because it arrived there after the due date. When I disputed that late charge with that explanation all they said that I should have paid it online to insure timely delivery. And they refused to reverse the late charges.
But ultimately I got the last laugh because in 2004 I burned them to the tune of about $5000 when I included them in my bankruptcy filing.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests