Citigroup (Citibank) Going Down in a Matter of Days

As I expected, the demise of Citigroup is now at hand. Information is emerging that strongly indicates the bank will fail in a matter of days, perhaps as soon as the end of this week. The FDIC will give the bank a chance to find a buyer, and it is likely it will, given the history and name of Citigroup in the financial world as well as in the minds of consumers. Will it be Barclays, another European bank, or perhaps one of the former investment banks (JP Morgan, Goldman Sachs) looking for a deposit bank to ease the transition into becoming commercial banks themselves ? We will have to wait to see. One big thing looming will be the impact of this monumental collapse and the jolt on the financial markets. The days following the realization of this will be ones of great strife and misery for all the major indices. The Dow could drop into the mid to upper 6000s; the NASDAQ will go below 1000; and the S&P 500 will sink to below 500.
-
And the media will be in an uproar and panic. It will be ugly.
-
http://www.247wallst.com/2008/11/market-assuming.html#more
---
*****