Thread: Is there a better example of fucked up than CITI?

These are interesting times for sure. Its my belief an economic environment like this changes the economy permanently. Look no further than CITI

Citi bank charging 29% on credit card balances?

Will anyone ever use them again, or for that matter re elect Obama?

Sure maybe Bush boy elected to bail them out, mistake number 1.

But would it be worse if Jr. was still around? No.

Either way, shame on both them for bailing out what is obviously a losing business.

As far as banks go where you can walk into a branch and talk to a banker in more than 100 countries, citi doesn't have a ton of competition.

I've got a friend with citi and he was robbed in la paz. Went into a citi bank with neither his passport (or any other form of ID) nor his bank card.

They sat down with him and an hour later he had about 200 dollars cash, a temporary debit card and taxi waiting to take him to the US embassy.

If thats not customer service, I don't know what is.

And no fault to be given to the imbeciles that live beyond there means..Where has personal responsibility gone?

Originally Posted by polariso

And no fault to be given to the imbeciles that live beyond there means..Where has personal responsibility gone?

Seems to be the American way, from the top down. Gov't should set and example, but they can't.

Any idea how many people default at 29%? Cost of doing business.

Originally Posted by polariso

And no fault to be given to the imbeciles that live beyond there means..Where has personal responsibility gone?

exactly. So why did we bail them out? Why did'nt we let CITI go under?

Obviously the tax payer's, albeit irresponsible ones who use credit cards in a society where you can piss without one, are footing the bill for losers who cannot borrow at 3%, lend at 30% and still stay afloat alone.

CITI = Zombie, thanks to bullshit accounting practices, FASB rules, and derivatives. That POS ain't outta the woods yet.

Originally Posted by Cono Este

exactly. So why did we bail them out? Why did'nt we let CITI go under?

Obviously the tax payer's, albeit irresponsible ones who use credit cards in a society where you can piss without one, are footing the bill for losers who cannot borrow at 3%, lend at 30% and still stay afloat alone.

Shouldnt be anything like too big to fail..they should have failed..no more bailouts people...
I was only quantifying 29%.. its calculated by your ability to repay and the recent defaults show 29% is too low for some.. The banks ability to adjust the rate without regard for a persons financial situation is a problem.

Originally Posted by Moeghoul

CITI = Zombie, thanks to bullshit accounting practices, FASB rules, and derivatives. That POS ain't outta the woods yet.

I hope they never make it out.

In fact as long as that place stays open I am not sure we can call ourselves "cured" and begin our recovery.

Children. Back before I went grey, the big "C" was a pillar of strength and signal of any forth coming change in the mkt. I wish I could give back all my illicit gains from selling this piss out of its skew each month, but hey, you can ask the ex for it now.

Wow do things change.

Originally Posted by Cono Este

I hope they never make it out.

In fact as long as that place stays open I am not sure we can call ourselves "cured" and begin our recovery.

Oh you mean Fannie, Freddy and Barney..

You cant compare fannie and freddie to those two. Even if there were just as dumb, it comes as a privilege when your a quasi govt agency.

Originally Posted by Cono Este

You cant compare fannie and freddie to those two. Even if there were just as dumb, it comes as a privilege when your a quasi govt agency.

But the overextension of consumer credit is a common thread..

Originally Posted by Cono Este

These are interesting times for sure. Its my belief an economic environment like this changes the economy permanently. Look no further than CITI

Citi bank charging 29% on credit card balances?

Will anyone ever use them again, or for that matter re elect Obama?

Sure maybe Bush boy elected to bail them out, mistake number 1.

But would it be worse if Jr. was still around? No.

Either way, shame on both them for bailing out what is obviously a losing business.

I don't blame C for charging 29% on unsecured consumer credit loans to a bunch of pikers who'd probably use that credit to buy skis, bikes or dildo extensions that they can't afford.

But AIG is worse than C.

You guys need to garrot bankers, cut off testes, knot said testes into nooses and use those nooses to hang captured regulators, captured politicians, efficient market economist (that includes greenspan and helicopter Ben). And that's just a start

^Better than flogging them to death with the pizzle.

Originally Posted by Phill

As far as banks go where you can walk into a branch and talk to a banker in more than 100 countries, citi doesn't have a ton of competition.

Citi is a good international retail bank. I have moved around a fair bit and they have come with me everytime. HSBC is also good.

Pizzle! I had to look that up ha!

Here's a thought. At 29% + late fees it's like a debtor's prison. I myself finally said FU and what do you know, they got reasonable and got paid back. 29% looks good on an MBA's spread sheet and is an easy sell to the dumbo's upstairs but the spread sheet didn't factor in the defaults I'm betting. 15% of something is profit. 29% of nothing is nothing.

And no, I didn't spend it on HDTV's and vacations. Wish I had.

Originally Posted by Hohes

^Better than flogging them to death with the pizzle.



Citi is a good international retail bank. I have moved around a fair bit and they have come with me everytime. HSBC is also good.

HSBC Holdings plc was founded in 1991 in London by The Hongkong and Shanghai Banking Corporation..

The story is that they goosed the rate 10% 2 months before Obama's credit act went into effect.

I am not sure who i am more ashamed of.

Its like guns and liqour. Stock up now!

I just find it laughable, of all things in this presidency that shit got funded by us!

NOt to mention all the lost opportunity for those who played it cool and could have benefitted from their demise. That's how its supposed to work.

I can hear Jim Rodgers still complaining. And he is right. penny bid for that company if it werent for the crooks in washington.

Originally Posted by Cono Este

The story is that they goosed the rate 10% 2 months before Obama's credit act went into effect.

I am not sure who i am more ashamed of.

Its like guns and liqour. Stock up now!

I just find it laughable, of all things in this presidency that shit got funded by us!

NOt to mention all the lost opportunity for those who played it cool and could have benefitted from their demise. That's how its supposed to work.

I can hear Jim Rodgers still complaining. And he is right. penny bid for that company if it werent for the crooks in washington.

My HSBC (GM card) LOL, cranked me 10% and I have 800+ fico.. paid it off except a buck..fuckers
Novembers going to be great!

Originally Posted by polariso

HSBC Holdings plc was founded in 1991 in London by The Hongkong and Shanghai Banking Corporation..

Yes, so what? I just said that they offer good international retail banking services. Nothing more.

Originally Posted by Hohes

Yes, so what? I just said that they offer good international retail banking services. Nothing more.

Ya so what? I only said they were a chinese bank.. Now for the personal attack..your paranoid.

Originally Posted by polariso

Ya so what? I only said they were a chinese bank.. Now for the personal attack..your paranoid.

You put the nonono icon there. So explain yourself. HSBC was a Hong Kong bank which is very different than a Chinese bank. So explain whether you are an idiot or whether you just like to say stupid things so people think you are an idiot.

Originally Posted by LeeLau

You put the nonono icon there. So explain yourself. HSBC was a Hong Kong bank which is very different than a Chinese bank. So explain whether you are an idiot or whether you just like to say stupid things so people think you are an idiot.

Hong Kong.. China.. same thing.. Oh ya they jacked my fucking rate 10 percent for no reason... are you chinese?

Originally Posted by polariso

your paranoid.

You can choose your reply:

[1] Huh? I'm not paranoid. I'm confused as to what your point was by adding the blue guy shaking his head.

[2] My paranoid what?

Originally Posted by Hohes

You can choose your reply:

[1] Huh? I'm not paranoid. I'm confused as to what your point was by adding the blue guy shaking his head.

[2] My paranoid what?

The little blue guy means... dont use them!
They are blood sucking , rate jacking scum!