Comments on: Black November Begins With US Federal Reserve’s $41b Citigroup Bailout http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 By: Jeff Bowyer http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/comment-page-1/#comment-53576 Jeff Bowyer Mon, 24 Nov 2008 04:41:00 +0000 http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/#comment-53576 "Government Considers Citigroup Rescue" Even more unthinkable than bailing out the U.S. automakers. Citi is a MULTINATIONAL company. There's even several branch offices right here in Brno, Czech Republic that employ Czechs, not Americans. Why should U.S. taxpayers bail out Citi? To save Czech jobs? "Government Considers Citigroup Rescue"

Even more unthinkable than bailing out the U.S. automakers.

Citi is a MULTINATIONAL company. There's even several branch offices right here in Brno, Czech Republic that employ Czechs, not Americans.

Why should U.S. taxpayers bail out Citi? To save Czech jobs?

]]> By: Doug http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/comment-page-1/#comment-4350 Doug Sat, 03 Nov 2007 20:52:42 +0000 http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/#comment-4350 YIKES! YIKES!

]]> By: Joe Stocks http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/comment-page-1/#comment-4349 Joe Stocks Sat, 03 Nov 2007 20:43:07 +0000 http://www.dailyreckoning.com.au/citigroup-bailout/2007/11/02/#comment-4349 I saw this $41 bil mentioned since Thursday. It is not correct. The Fed had $42.5 bil expiring Nov 1 (thursday) in their Temporary Open Market Operation (TOMO). It is unusual for them to have that much expiring at once because it was almost the complete balance of $47 bil., but it just worked out that way. They replaced that $42.5 bil with just $41bil. In three repos expiring the 2nd, 8th, and 15th. In essence they drained $1.5 bil. Good site for keeping up with TOMO's. http://www.gmtfo.com/RepoReader/OMOps.aspx It appears the media picked it up as a big add when it wasn't. They just replaced what was expiring. That said, I am not going to say that haven't been adding - just in this case someone got it wrong. Amazing how this story took on a life of its own. Google "Federal Reserve $41 bil". It is all over the place. Fed TOMO site http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE FWIW, Joe Eifrid (Joe Stocks) I saw this $41 bil mentioned since Thursday. It is not correct. The Fed had $42.5 bil expiring Nov 1 (thursday) in their Temporary Open Market Operation (TOMO). It is unusual for them to have that much expiring at once because it was almost the complete balance of $47 bil., but it just worked out that way.

They replaced that $42.5 bil with just $41bil. In three repos expiring the 2nd, 8th, and 15th. In essence they drained $1.5 bil. Good site for keeping up with TOMO's.
http://www.gmtfo.com/RepoReader/OMOps.aspx

It appears the media picked it up as a big add when it wasn't. They just replaced what was expiring.

That said, I am not going to say that haven't been adding - just in this case someone got it wrong. Amazing how this story took on a life of its own. Google "Federal Reserve $41 bil". It is all over the place.

Fed TOMO site
http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE

FWIW,

Joe Eifrid
(Joe Stocks)

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