Email from a Trading with Cody subscribe…
Email from a Trading with Cody subscriber:
“Hey Cody! What do you think about the reverse split with Citi? Buy?? The other big banks? Buys? Thanks, Shawn.”
Shawn, earlier this week, I started shorting the XLF of which Citi and its welfare-funded business is a part. Citi would be insolvent right now if not for ongoing welfare/transfer of wealth through the Republican/Democrat Regime’s policies. I don’t like to invest in companies that can’t survive without violent redistribution of wealth. Short and fight all the TBTF welfare bailed out banks til they learn to live on private funds!
Let’s think this latest “the banks are finally in the clear” logic all the way through, as the biggest, most influential and heavily subsidized banks in our supposedly “free market” country get approval to “pay dividends”. Somebody explain to me how the Fed can approve “normalized dividends” at the banks while keeping them on “emergency welfare/loans/subsidies”??? You can’t have it both ways. Get the banks off welfare, make them pay taxes, make them borrow from the free market and stop all guarantees and then they can give all the dividends they want!
Until Citi, JPM, Wells Fargo, Goldman, et al are off the taxpayer tit, they have NO RIGHT TO tax me and send that money directly to their shareholders. Let’s just enforce the laws of the land and send these banksters to prison already! I’ve highlighted repeated examples of the CEOs, CFOs, traders and others in these firms who could easily be prosecuted for misleading statements they made about their balance sheets and the states of their businesses.
