Originally Posted by melwoesblvd
greece is going down, citi is going down with it. i hope it gets to around 2.50 again. but realistically i think it will stay around 5 for a few months now
Most PIIGS debt is in the hands of Europeans. American banks aren't that connected to Greece and the rest of PIIGS, not like European banks.
Citi is a piece of crap bank, but when you have the backing of the government, they won't fail. I advocated buying their stock when it was around a 1 but I don't see the stock going that much higher in the next few years. They're marking assets at bubble prices like almost every bank now. Eventually that will cause a problem.