Volcanic Ash Drifts Towards North AmericaVolcanic ash could hit the east coast of North America by mid-morning New York time Monday, according to the UK's national weather service, but no impact on the United States is predicted yet.
Forget Eyjafjallajokull, Mt. Katla Is Now Getting Ready To Rumble
The ground is now literally shaking around Iceland's Mt. Katla. If that blows, look for Bund spreads to promptly catch up with Greek ones.
6. The interesting part about this Goldman fraud is that you see who belongs to the cabal very easily now. I hear so called journalists from Bloomberg very much defending Goldman and usual suspects pop up as well. CNBC we knew anyway but I always though that Bloomberg was part of it as well and now one can see it litterally. Interestingly Clinton blamed Summers and Rubin for giving him bad advice on the weekend. Well Deutsche, Merrill, Citi, Credit Suisse, UBS are part of this fraud as well and it needs some guts to go after all of them but the sentiment will move into that direction clearly and I wonder how politicians think they get away with it themselves. The regulator of investmentbanks the FED did not do its job obviously in this fraud as well and against all claims this will get ugly for those banksters as they keep making record profits purely on behalf of Mainstreet losses which will make the sentiment against them grow to the crucial election topic.
JP Morgan has 7 bil in loan loss provisions and Citi 2.4 bil - well I even do not need to check any balance cheats to know who is the bigger liar. Here the government is directly involved into another fraud as Citi misspresents numbers in order to scam buyers into the big sell off of government stocks in Citi stocks.The so called trading profits in bonds is nothing else but stealing money from Mainstreet with the help of the FED and government.
Citigroup said its total reserves to cover losses from bad loans fell 22 percent, or $2.4 billion, from the fourth quarter to its lowest level in two years. The company said its credit losses fell 15 percent to $8.4 billion from almost $10 billion in the fourth quarter. Citigroup reported improvement across nearly all its loan portfolios.
The company reported $8 billion in securities and banking operations, which includes its trading business. That was up $4.7 billion from the fourth quarter.
Bonds accounted for a big chunk of the trading gain. Like other companies' investment banking operations, Citigroup's benefited from very low interest rates that allowed it to borrow cheaply to buy higher-yielding investments.