Be Thankful for your Dollars; Billions are never enough

So trendy, “Everything I ask For, and just a little bit more…”

When $10.9 billion is just not enough | Gristmill: The ..Exxon May 2008

“You know we’re living in strange and perverse times when ExxonMobil can post a $10.9 billion quarterly profit and still fall short of expectations. “–Gristmill

Microsoft: $20 Billion Of Cash Not Enough, So We’re Borrowing More Nov 20, 2008 They’ll instantly gain a billion web users and 20% search market share. The search-only deal offers neither company anything except maybe a

Air Force: $144 Billion a Year Not Enough; Wants $19 Billion More

Citigroup “fear”, Citi job losses:

April 2008 9,000 for a $5 billion loss
Nov 2008 – 2009 53,000 for $____ billion loss despite $____ billion injection

Citi CEO is still enamored with mortgages, the topic of their trouble. Isn’t it still true, no job, no house? Understatement of the year $700 billion is not enough.

Remember when Mr. Pandit was trying to help Lehman Brothers on Bankruptcy Day. So what are we talking about, huh?

“Citibank NA is listed in the Lehman Brothers bankruptcy filing as an indenture trustee for bond debt of approximately $138 billion under Lehman Brothers Holdings Inc. senior notes. Citi wishes to clarify that our role in this issue is administrative in nature and does not represent exposure for Citi to Lehman. Any assertions to the contrary are false.”–We Are Experiencing Turbulent Times

“Discretion works well when the parties are subject to overall community norms, as should be the case for the relatively small community of professional institutional indenture trustees.36 But when such norms are lacking, granting discretion to parties subject to principles-based regulation can become a blank check for abuse.”–Principles Based Regulation, Legal Theory Blog

Wall Street Bailout: $700 Billion Won’t Be Enough – Associated Content


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