Citigroup posts another big loss


Citigroup has reported another big loss, although it lost less money than had been expected.

The biggest US bank by assets lost $2.5bn (£1.3bn) in the three months to the end of June, weighed down by another $11.7bn of write-downs.

Citigroup said it had cut 11,000 jobs in the first six months of the year and planned to continue at the same rate.

Related article: US: Financial system is a house of cards

Read moreCitigroup posts another big loss

US: Financial system is a house of cards

What will happen if “more” banks will fail?

Interesting comment:
“I was talking to a close friend yesterday and he told me that he just heard an “expert” on CNBC tell the audience that the failure of IndyMac was nothing to worry about – it was just one bank. How on God’s green earth do they allow such idiots to mis-lead the listeners? Just one bank? This is the second largest bank failure ever, (second in size only to the 1984 failure of Continental Illinois Bank which led to a big jump in the price of gold at the time). Don’t these fools realize that the Federal takeover of this “one bank failure” is going to leave 10,000 depositors with $1 billion in deposits that EXCEED the $100,000 FDIC insurance limit and they will be lucky to get any of it back. Don’t they realize that this “one bank failure” will use up 10% of the total FDIC fund, which is only $53 billion. How safe if your money in your bank? How safe is the dollar?” Source: Here

It looks like the entire financial system of the U.S. will fail.
If you take a closer look at the article below, then you will see how tense the situation already is.
And
IndyMac was “just one bank”.
You will find more information below the following article.
– The Infinite Unknown

_________________________________________________________________________________________

July 17, 2008
Source: msnbc

Banks reportedly not taking IndyMac checks

Finally able to withdraw their money, customers can’t open new accounts

LOS ANGELES – The frustration didn’t end for some IndyMac customers when they finally were able to withdraw their funds from the failing Southern California bank seized last week by federal regulators.

Some people have run into more problems when they tried to deposit IndyMac cashier checks at other banks.

Sheryl MacPhee said she waited in line two hours Tuesday at an IndyMac branch in San Marino to liquidate a certificate of deposit. But when she took it to a Washington Mutual branch in South Pasadena to deposit, she said a manager told her their new policy was not to accept IndyMac checks. If the customer insisted, she said she was told, it could take eight weeks or more to access the full amount.

“Sure, IndyMac will give you a check,” MacPhee told the Los Angeles Times, “but what good is it if no other institution will accept it?”

Read moreUS: Financial system is a house of cards

Merill Lynch posts loss of 4.6 bln dlrs, sheds assets

Wall Street investment giant Merrill Lynch on Thursday announced a quarterly loss of 4.6 billion dollars, driven by hefty writedowns from its bets on the US real estate market.

Merrill, which has been roiled by its exposure to the US subprime mortgage crisis, also said it would shore up its capital with the sale of some assets.

It announced the sale of its 20 percent stake in financial news and data group Bloomberg for 4.425 billion dollars.

Related: Fed: No more bailouts, except Fannie Mae and Freddie Mac

Read moreMerill Lynch posts loss of 4.6 bln dlrs, sheds assets

FREDDIE & FANNIE UNCONSTITUTIONAL BAIL OUT USING WHAT?



“As I write this column, Congress has run this country into a $9,498,511,404,143.63 debt. That’s just under $9.5 TRILLION “dollars.””

I really hope that you will find time to read this article. 🙂
_______________________________________________________________________________________

Arthur Henning of the Chicago Tribune said back in 1935, “The New Deal will bring the Communist Party within striking distance of overthrow of the American form of government…” Mark Sullivan of the Buffalo Evening News also expressed alarm in 1935: “The New Deal is to America what the early phase of Nazism was to Germany…”

The nation is awash in fear because they are coming to realize that while they’ve been buying all the hype from the cabal of gangsters in Washington for decades, reality is now setting in as poverty is slamming millions who used to belong to the middle class. From dangerous lending practices to the derivatives time bomb waiting to go off and inflation getting ready to launch into hyper inflation, the situation is more grim by the week. A financial catastrophe so many have been warning about for decades, it’s all coming home to roost. The “perfect storm” as it’s being called. The beast is now devouring itself and we the people are caught in their cross fire.

Unfortunately, most Americans haven’t been listening. They’re either addicted to sports, shopping, porn, drugs or yaking on their cell phones while the world has been heading for financial Armageddon.

Read moreFREDDIE & FANNIE UNCONSTITUTIONAL BAIL OUT USING WHAT?

Chertoff: European terrorists trying to enter US

Chertoff reiterated his concern that terrorists could sneak radiological material into the country on small boats or private aircraft. This material could be used to create an explosive device known as a “dirty bomb.”

Do we have to expect another false flag attack???

Related articles and video:

Former Governor: “Absolutely” danger of false flag as pretext to attack Iran
Loose Change Final Cut
9/11 False Flag
Government Insider: Bush Authorized 9/11 Attacks
Rumsfeld: Why not another 9/11?

(After I have seen this photo, I would send Mr. Chertoff to a cancer checkup straightaway.)

Homeland Security Secretary Michael Chertoff

WASHINGTON (AP) – European terrorists are trying to enter the United States with European Union passports, and there is no guarantee officials will catch them every time, Homeland Security Secretary Michael Chertoff said Thursday.

Read moreChertoff: European terrorists trying to enter US

Nigeria Issues Arrest Warrants for Top Pfizer Officials After Drug Experiments Conducted on Children

(NaturalNews) A Nigerian state judge has issued arrest warrants for three top Pfizer officials, saying that they failed to appear in court to face charges of illegally conducting drug trials that led to the deaths of 11 children.

Read moreNigeria Issues Arrest Warrants for Top Pfizer Officials After Drug Experiments Conducted on Children

Ron Paul : When in the course of human events…

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
– Congressman Ron Paul

Added: August 10, 2007

Source: YouTube

Bush: ‘Our Long National Nightmare Of Peace And Prosperity Is Finally Over’

Source: THE ONION From !!! January 17, 2001 !!!  A must read.

WASHINGTON, DC-Mere days from assuming the presidency and closing the door on eight years of Bill Clinton, president-elect George W. Bush assured the nation in a televised address Tuesday that “our long national nightmare of peace and prosperity is finally over.”


President-elect Bush vows that “together, we can put the triumphs of the recent past behind us.”

“My fellow Americans,” Bush said, “at long last, we have reached the end of the dark period in American history that will come to be known as the Clinton Era, eight long years characterized by unprecedented economic expansion, a sharp decrease in crime, and sustained peace overseas. The time has come to put all of that behind us.”

Read moreBush: ‘Our Long National Nightmare Of Peace And Prosperity Is Finally Over’

Kucinich Says Unidentified Foreign Official Wants to Speak at Impeachment Talks

An unidentified government official of a U.S. ally wants to participate if and when Rep. Dennis J. Kucinich makes his case to impeach President Bush before the House Judiciary Committee, according to the Ohio Democrat.

The House voted, 238-180, on Tuesday to send Kucinich’s latest impeachment effort (H Res 1345) to the Judiciary Committee.

Chairman John Conyers Jr. said he will hold a broad hearing on the general topic of abuses of power by the Bush administration.

“There’s never been one [hearing] that accumulated all the things that constitute an imperial presidency,” Conyers said, explaining that the anticipated hearing would review more than a year of committee inquiry into such matters as the firing of U.S. attorneys, the leak of the identity of former CIA operative Valerie Plame and the information provided to Congress in the run-up to the Iraq War.

Kucinich contends that President Bush ought to be impeached for allegedly lying to Congress in order to get approval to invade Iraq.

Read moreKucinich Says Unidentified Foreign Official Wants to Speak at Impeachment Talks