Citigroup's (C) Chairman Parson Said No More Government Capital Needed
Citigroup (NYSE: C) Chairman Richard Parsons said the embattled bank doesn't need additional capital injections from the government, according to Reuters.
When asked if the bank would need more assistance, Parson said, "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world."
Earlier in the week, Citigroup CEO Vikrim Pandit said the bank was profitable on an operating basis for the first two months of the year.
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Citi and BAC
Ayrlain Prenna on Mar 15, 2009 01:09 AMI invested every penny I had into these 2 last week. I am looking for more in the short time. I have a 275% gain in Siri and 80% now in C aas I bought them @ .07 and 1.00 respectively. I am itching to get the heck out and hope taking it into next week was not a mistake. How much conviction is there. I firmly believe we are do some return to more reasonable levels. The shorts are bastards and do not care who they destroy as they make millions. They are the gas you no longer see when your money is disappearing.....lol But hey, anyone can play the short game just the same...In times like this we should educate ourselves for new strategies ahead. AP's week ahead predictions BAC will generally spike at the open and trade down and cross ways all day. However, the momentum and the news has temporarily shifted the direction of the winds and new money should really flood into the market this week. Institutions will pickup BAC this week and soon Citigroup may be Dow Demoted. BAC is very healthy really, and C is worth more than $1.78, and these prices are way, way oversold and the shorts won this round and the market really does need a breather from the unprecedented downturn. Alot of ands in there huh, well, the Blog I want to start here is lets talk about whether or not to hold into actual Q reports are announced. .97 cents x 5.5B shares C Mar Cap....That is not real. C needs to make a firm run here to break thru $5 convincingly if it has any chance to stay on the Dow, which has probably already been decided as we write this. The truth of the matter however, is that there is likely some more bombs to be dropped. So, if you get a really nice profit going use some sort of trailing stop as you see fit. Do not let a great gain turn into a loss Rating---Buy and sell before Q report....lol Both of these