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Thread: Citigroup buys out Wachovia

  1. #1
    Merry fucking Christmas Atmosfear's Avatar
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    Default Citigroup buys out Wachovia

    It's more than a little disappointing... the WaMu merger really opened a lot of eyes as to how poorly option ARMs were doing. Wachovia was standing to survive the struggle because they had so few mortgage-backed securities and enough time to restructure their loans to minimize defaults but WaMu really fucked them over.

    Good move for Citigroup, though... Wachovia was a major player in storefront banking and Citigroup simply wasn't.

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    Senior Member Absolution's Avatar
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    Isn't Wachovia like in major debt?

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    Deal with it DaiTengu's Avatar
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    Dear US Government:

    I have 700 billion Style Points that I will donate to you.

    hope this helps.

  4. #4
    beautiful dirty rich Nadia's Avatar
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    This might sound stupid but what happens to you if you have a Wachovia account?

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    Merry fucking Christmas Atmosfear's Avatar
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    Quote Originally Posted by DaiTengu View Post
    Dear US Government:

    I have 700 billion Style Points that I will donate to you.

    hope this helps.
    700 billion style points is only 7 billion dollars, moron.

  6. #6
    Merry fucking Christmas Atmosfear's Avatar
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    Quote Originally Posted by Nadia View Post
    This might sound stupid but what happens to you if you have a Wachovia account?
    Odds are, nothing. Citigroup is effectively buying Wachovia's debt for $1 per share. The name of your account provider probably won't even change.

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    λεγιων ονομα μοι sycld's Avatar
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    No one's bothered to mention yet that the $700 billion bail-out package has failed in the House...


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    Senior Member Absolution's Avatar
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    Yeah because you found out like an hour ago douche bag.

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    Journeyman Cocksmith Mr. E's Avatar
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    Quote Originally Posted by sycld View Post
    No one's bothered to mention yet that the $700 billion bail-out package has failed in the House...
    That's because that news is brand fucking new

    I mean, I don't check the news in the middle of the day, and I assume most others don't either

    So, in other words, more news at 11 (c what I did there?)

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    Merry fucking Christmas Atmosfear's Avatar
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    At the time of this thread posting, it hadn't failed yet.

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    Journeyman Cocksmith Mr. E's Avatar
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    Default

    also, the bailout isn't really relevant to this thread. Daitengu just threw in a 'comedic' derailment

  12. #12
    λεγιων ονομα μοι sycld's Avatar
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    Quote Originally Posted by Mr. E View Post
    That's because that news is brand fucking new

    I mean, I don't check the news in the middle of the day, and I assume most others don't either

    So, in other words, more news at 11 (c what I did there?)
    Um... lrn2stayointopofthenews? :'(

    I don't usually either, but I thought someone might have... my radio is almost always set to NPR.

    Also, the bailout is RELEVANT TO EVERYTHING GODDAMN IT D:

    Quote Originally Posted by Atmosfear View Post
    At the time of this thread posting, it hadn't failed yet.
    True, I know that.


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    I loves sausage festival! djwolford's Avatar
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    Quote Originally Posted by sycld View Post
    my radio is almost always set to NPR.
    You are a sad, sad person.....until today I was the only person I knew of that actually listened to NPR.

    It's quite enjoyable though. I like Wait, Wait, Don't Tell Me and classical music.
    Quote Originally Posted by Toki
    Oh, gives to me opposites werewolves that turns to humans whens the moons comes outs!
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    kiss my sweaty balls benzss's Avatar
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    Fail begets failure.

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    Senior Member Default User's Avatar
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    Good thing I use SunTrust.

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    λεγιων ονομα μοι sycld's Avatar
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    Quote Originally Posted by djwolford View Post
    You are a sad, sad person.....until today I was the only person I knew of that actually listened to NPR.
    hehe, I take it this is a bit of self-commentary as well.

    Quote Originally Posted by Default User View Post
    Good thing I use SunTrust.
    Am I the only person to whom SunTrust sounds like the name of a bank that caters to nudists?


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    Scito Te Ipsum TheOriginalGrumpySpy's Avatar
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    Wow.

    Biggest point loss in history, which I assume is a bit blown out of proportion when you look at inflation rates relatively.

    1.2 Trillion is lots of money.

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    I loves sausage festival! djwolford's Avatar
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    Quote Originally Posted by sycld View Post
    hehe, I take it this is a bit of self-commentary as well.
    Very much so. It's captivating once you start listening to it though.
    Quote Originally Posted by Toki
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    Quote Originally Posted by Toki
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  19. #19
    Scito Te Ipsum TheOriginalGrumpySpy's Avatar
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    I am obsessed with NPR especially All Things Considered and Wait Wait

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    Senior Member Absolution's Avatar
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    That's because you're a faggot.

    Sorry

  21. #21
    Scito Te Ipsum TheOriginalGrumpySpy's Avatar
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    It was about that time for me anyway, that's for breaking it to me straight..or I guess, not straight.

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    hotter than a $2 pistol gorefinger's Avatar
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    Atmosfear, I remember you mentioning you went to UGA.

    Are you a business or an economics major?

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    Merry fucking Christmas Atmosfear's Avatar
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    Yes.

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    Senior Member Ranton's Avatar
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    Quote Originally Posted by DaiTengu View Post
    Dear US Government:

    I have 700 billion Style Points that I will donate to you.

    hope this helps.
    Leveraged?

    Quote Originally Posted by TheOriginalGrumpySpy View Post
    I am obsessed with NPR especially All Things Considered and Wait Wait
    The Podcasts of All Things Considered, Story of the Day and Live Concerts from All Things Considered are part of my weekly downloads.

  25. #25
    BANNED
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    Quote Originally Posted by gorefinger View Post
    Atmosfear, I remember you mentioning you went to UGA.

    Are you a business or an economics major?
    A major at 16.

    lol

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    My account is with Wachovia, I hope everything transfers smoothly.

    P.S: Atmosfear, you're wrong, 700 billion SP == $700,000,000,000.00 Perhaps you were thinking of the typical 0.01 SP as == 1SP?

  27. #27
    Merry fucking Christmas Atmosfear's Avatar
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    If you think 1 SP is worth 1 dollar you are gravely mistaken.

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    Quote Originally Posted by Atmosfear View Post
    If you think 1 SP is worth 1 dollar you are gravely mistaken.
    1 SP was a dollar for a while (not that it matters since LWS went to hell right before I could cash out)
    15.00 SP = 15 SP = $15 minus paypal fee.

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