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Citigroup disconnect

Bob Morris, on Mar 10, 2009, 1:30 pm

Someone leaks a Citigroup memo from their CEO saying everything is fine, just fine. Market explodes upwards. Gosh, I’m sure no one bought the stock in advance of the leak. Because that would be wrong.

Meanwhile, US prepares next Citigroup bailout, but says it’s just “contingency planning,” right.

With the current stock market being 1) clearly manipulated and 2) deeply irrational, it’s probably best to stay on the sidelines.

Tags: | Category: News | One comment - (Comments are closed)

  • http://readoralive.com Josh

    Me and my friend used to have this sort of inside joke where every time the news had one of those big market party days “Top Story: The Market is Waaaay Up!!!” we would have these little mock celebrations toasting our phony success. The gag is that even as the market is exploding, nobody actually ever gets dick, their problems just get worse and worse and worse. It was our private f**k you to the bankers, or hedge fund managers, or whoever it was that was actually making any real money.

    Now, it should become clear to people that NOTHING has changed, it’s still the same bogus numbers going up and down, as you said, manipulated and irrational. So, I really hope everyone is throwing their own little joke parties tonight, because a couple white guys in chelsea may have made a few million bucks today, but the rest of still the same kind of f**ked we were yesterday, if not a little bit worse. Cheers.