Let the Fire Sales Begin

Citigroup Plans to Shed About $400 Billion of Assets
http://www.bloomberg.com/apps/news?pid=20601087&sid=anmA4fVjpd00&refer=home

A billion here and a billion there...pretty soon it all adds up....yowsers.

The first of many banking firesales. You'll see the "re-privatization" of assets facilitated at the expense of shareholder dilutions and tax-payer risk. You can thank the federal reserve for its attempts to prop up insolvent banks while they jettison their ponzi-scheme gorillas acquired over the last 10 years. It's a race to see who can dump assets fast enough to keep the ships afloat. Then they'll just abandon ship onto the private luxury yachts that buy all this garbage at pennies on the dollar...Rinse and Repeat.