Saturday, December 19, 2009

KingCast explains why Citibank stock might never rise again and Citigroup is in danger of going under, dragging taxpayers with it.

Pictured: Citi CEO Vikram Pandit, seated with other fat cats, Citi/Morgan Lewis lawyer Sam Shaulson and one of his contemporaries.

KingCast and Bill Christy share as brothers in Citibank misery as stock plummets!

Remember when Bill Christy was writing in last week about how everything was just hunky-dory at Citibank because they couldn't be corrupt because the U.S. Government was about to make some loot from its stock shares?

Not so fast dude.

Citibank suffers weak response to share offering
Posted: 18 December 2009 0026 hrs
NEW YORK : Citigroup stock took a beating on Wall Street Thursday after weak demand for a share offering that prompted the US government to delay the sale of its stake in the bailed-out banking giant.

Citi shares tumbled 8.12 percent in early trade to 3.17 dollars and have plunged some 20 percent over the past week. The market action came after Citi said late Wednesday its share offering saw prices of 3.15 dollars per share.

This was well below the average price paid by the US government as part of a multibillion-dollar bailout under the Troubled Asset Relief Program (TARP).

That prompted the Treasury to delay its plans to divest an initial five billion dollars.

"The US Treasury announced it would extend its lock-up period on the sale of its 7.7 billion share common equity stake to 90 days from 45 days after the completion of this offering," Citigroup said in a statement.


In the Vikram Pandit cam post I ran it all down with information about the fact that almost every multinational banking scam involves Citibank. I've been listing Enron, Ohio, California, Mexico, Russia and some of the others here and at Citibankisracist blog, and of course we will see that Citibank lied when they are forced to produce the bank video in my racial discrimination case against them, MCAD will be requesting that video in the ordinary course of business even though my Motion to Compel it was denied. That denial actually works in my favor because it gives these liars less grounds for appeal should they get smoked at the Commission stage by a Probable Cause determination.

PS: Bill I received an interesting response from Senator Tarr's Office about the correspondence you sent them. I'll be discussing that matter with Senate Counsel next week. I'm chillin' with Oliver Ruff right now and we are really wondering what your role in the whole Franconia Shooting tragedy was really all about.

4 comments:

  1. American Tower came back strong because they owned all of the infrastructure.

    Citi owns nothing but trouble.

    -The KingCaster

    PS: American Tower was fined $14M as was Citibank, ATC was fined because of back dating stock options sometime after I was employee of the week.

    ReplyDelete
  2. Basically,

    The Government is upside down in Citibank, just as U.S. taxpayers are in their homes!

    ReplyDelete
  3. Morgan, Lewis reading right along, no doubt hatin' and trying to find a way to shut me down:

    IP Address 12.53.161.4 [Label IP Address]
    Country United States
    Region Pennsylvania
    City Philadelphia
    ISP Morgan, Lewis And Bockius

    19th December 2009
    13:39:19

    No referring link
    citibankisracist.blogspot.com/2009/12/kingcast-explains-why-citibank-stock.html

    ReplyDelete
  4. Also as noted in this post, Citibank finally provided MCAD the video that purportedly shows me acting my color, but which in reality shows the Citibank manager -- not a black person, contrary to their lawyer's assertion -- denying me the right to open a bank account.

    I'll try to get it reviewed today.

    *********

    And I got an email from someone that goes like this, in pertinent part:

    I'm not authorized to provide this individual's full identity or what type of discrimination it was, but the email I received this morning is pretty well-sorted and speaks to the same type of issues I have been exposing with these scum-sucking rat pigs for the past several months.

    The passages I can quote without identifying the individual are:

    *********

    But First, I couldn't agree more with Citibank being a part of the mortgage Crisis. About ____ years ago (before I worked for Citi) I attended a "Primerica" seminar, which is a pyramid scam that was a part of Citi. I followed it for a while to see how far the corruption would go. I watched of them going into low income neighborhoods selling the American dream of buying a home by "selling" them mortgages they could not afford and separate equity loans for their debt.

    They would also brain wash the residents of those neighborhoods by giving them the impression they would get rich quick by becoming a part of the Primerica team and giving them referrals of friends and relatives who they would then contact and give even more mortgages and equity loans to.

    It went on for years and Primerica or "Citi" is responsible for thousands upon thousands of bad mortgages because of this deceptive practice all in the name of making a dollar. I knew one of the "Top Dogs" of a Pyramid in [State withheld at present] who doctored applications of impressionable poor "clients" of his and a couple hundred people who was under his pyramid. It was pretty sick.

    ************

    “…………Eventually I was convinced by my manager to speak with human resources because even though I expressed my disapproval the harassment persisted.
    Although he was "let go" in the end.

    The investigation was intentionally botched by human resources (the details would be too lengthy to describe), the harassment lasted even though I had physical proof of the harassment. H.R tried its hardest to find flaws in the facts.

    They offered me no sympathy and I was initially treated as if I was just some "unwanted whistle blower".

    Citi has not been compliant with supplying the details of the investigation to the EEOC and deny all claims of harassment…….

    You seem pretty knowledgeable with the corruption in Citibank, do you think there is anything else I could do? A letter to someone? Also, do you think it would be worth going public or to the press with my story, would they even be interested? How would I do it?.............”

    ReplyDelete