wpe50.jpg (1913 bytes)     TigerSoft News Service    11/25/2008      www.tigersoft.com 

         RECKLESS CITIGROUP INSIDERS SOLD 1,000,000 SHARES IN 2007                                       

           
       TigerSoft Charts Reveal The Massive Insider Selling
                     at Citigroup Started in January 2007
                              with Rubin's 77,500 at $55.05


               Using TigerSoft Would Have Saved Investors Millions.

                                                 Protect Yourself with TIgerSoft.
                                 The SEC Has Turned Its back on The Public
  

                 
Compare the TigerSoft Charts of Citigroup with
                      Companies That Have Gone Bankrupt:

                      
   Bear Stearns, Freddie Mac, Fannie Mae, Northern Rock.
                           Lehman Brothers, Washington Mutual and Many More....   

                                       
                                          
Robert Rubin's Promoted Reckless,
                       Highly Leveraged Lending at Citigroup.
                                Then He and Other Insiders
                             Sold One Million Shares at The Top
.

                               
As Citigroup's Architect of Reckless Lending, He Never even Allowed for
                             a national turn-down in housing. 
Obama Should Disassociate Himself from Rubin!

                                          by William Schmidt, Ph.D.
                 Author of Peerless Stock Market Timing: Automatic Buys and Sells: 1915-2008    
                                    Studies of Insider Trading      Finding The Most Bearish Stocks   


                                       
                                                            Spoting Bank Stocks in Big Trouble
                                    
TigerSoft News Service - 9/26/2008 - TigerSoft Warned Investors ...
                                     http://www.tigersoftware.com/Insider-Trading-News-Reviews/12-30-2007/index.html     
                                     http://www.tigersoft.com/Insiders/index.html   
                                     http://www.tigersoftware.com/TigerBlogs/5-7-08/index.html                                              
                    
wpe4F.jpg (33251 bytes)  

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-                              wpeF7.jpg (154790 bytes)
    Source:
     http://www.nypost.com/seven/11252008/postopinion/editorials/bounce_these_bozo_bankers_140652.htm

                                        Insider Selling by Robert Rubin at CitiGroup            

22-Jan-08 RUBIN ROBERT E
Officer
9,010 Direct Disposition (Non Open Market) at $24.20 per share. $218,042
22-Jan-07 RUBIN ROBERT E
Officer
77,500 Direct Sale at $55.05 - $55.05 per share. $4,266,0002
19-Jun-06 RUBIN ROBERT E
Officer
196,624 Direct Disposition (Non Open Market) at $48.36 - $48.36 per share. $9,509,0002
     

                                                   --------------------------------
                                Total              274,124 shares sold

                                 
                                  
Rubin was not the only insider selling large numbers of
              shares of Citgroup in 2007, more than a year before the stock
              fell under $4 and had to be rescued by a second $20 billion
              taxpayer bailiout.

                      
MASSIVE INSIDER SELLING AT CITIGROUP

19-Jan-07 RHODES WILLIAM R
Officer
56,000 Direct Disposition (Non Open Market) at $0 per share. N/A
22-Jan-07 KADEN LEWIS B
Officer
11,200 Direct Disposition (Non Open Market) at $54.55 per share. $610,960
22-Jan-07 BISCHOFF WINFRIED F W SIR
Officer
17,708 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $966,0002
22-Jan-07 VOLK STEPHEN R
Officer
16,348 Direct Disposition (Non Open Market) at $54.55 per share. $891,783
Jan-07 MEDINA-MORA MANUEL
Officer
10,523 Direct Disposition (Non Open Market) at $54.55 per share. $574,029
22-Jan-07 FREIBERG STEVEN J
Officer
21,162 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $1,154,0002
22-Jan-07 BANGA AJAY
Officer
18,374 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $1,002,0002
22-Jan-07 GERSPACH JOHN C
Officer
4,535 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $247,0002
22-Jan-07 KRAWCHECK SALLIE
Officer
50,339 Direct Disposition (Non Open Market) at $54.55 per share. $2,745,992
22-Jan-07 HELFER MICHAEL S
Officer
19,590 Direct Disposition (Non Open Market) at $54.55 per share. $1,068,634
22-Jan-07 BUSHNELL DAVID C
Officer
25,293 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $1,380,0002
22-Jan-07 PRINCE CHARLES
Officer
81,088 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $4,423,0002
22-Jan-07 RUBIN ROBERT E
Officer
77,500 Direct Sale at $55.05 per share. $4,266,375
22-Jan-07 DRUSKIN ROBERT
Officer
43,640 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $2,381,0002
22-Jan-07 RHODES WILLIAM R
Officer
24,712 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $1,348,0002
22-Jan-07 BISCHOFF WINFRIED F W SIR
Officer
17,708 Direct Disposition (Non Open Market) at $54.55 - $54.55 per share. $966,0002
22-Jan-07 VOLK STEPHEN R
Officer
16,348 Direct Disposition (Non Open Market) at $54.55 per share. $891,783
22-Jan-07 KADEN LEWIS B
Officer
11,200 Direct Disposition (Non Open Market) at $54.55 per share. $610,960
27-Feb-07 BUSHNELL DAVID C
Officer
6,940 Direct Sale at $52.10 - $52.1 per share. $362,0002
23-Feb-07 BISCHOFF WINFRIED F W SIR
Officer
15,419 Direct Sale at $53.64 per share. $827,075
5-Feb-07 RHODES WILLIAM R
Officer
8,000 Direct Sale at $55.03 - $55.03 per share. $440,0002
17-Apr-07 PRINCE CHARLES
Officer
13,419 Direct Disposition (Non Open Market) at $52.93 - $52.93 per share. $710,0002
17-Apr-07 GERSPACH JOHN C
Officer
19,128 Direct Disposition (Non Open Market) at $52.93 - $52.93 per share. $1,012,000
18-Apr-07 DRUSKIN ROBERT
Officer
10,000 Direct Sale at $53.07 - $53.07 per share. $531,0002
17-May-07 PRINCE CHARLES
Officer
13,395 Direct Disposition (Non Open Market) at $54.91 - $54.91 per share. $736,0002
16-May-07 RHODES WILLIAM R
Officer
20,000 Direct Disposition (Non Open Market) at $0 per share. N/A
25-May-07 BANGA AJAY
Officer
26,079 Direct Disposition (Non Open Market) at $54.93 per share. $1,432,519

 

3-Jul-07 DRUSKIN ROBERT
Officer
23,885 Direct Disposition (Non Open Market) at $52.84 - $52.84 per share. $1,262,0002

  

 
20-Jul-07 FREIBERG STEVEN J
Officer
11,591 Direct Disposition (Non Open Market) at $51.13 per share. $592,647

7

MAHERAS THOMAS G
Officer
23,964 Direct Disposition (Non Open Market) at $52.84 - $52.84 per share. $1,266,000

 

13-Jul-07 RHODES WILLIAM R
Officer
47,928 Direct Disposition (Non Open Market) at $52.84 per share. $2,532,

           

13-Jul-07 PRINCE CHARLES
Officer
38,342 Direct Disposition (Non Open Market) at $52.84 - $52.84 per share. $2,026,00

           

17-Jul-07 KLEIN MICHAEL STUART
Officer
19,282 Direct Disposition (Non Open Market) at $52.19 per share. $1,006,327

      

23-Jul-07 BUSHNELL DAVID C
Officer
11,809 Direct Disposition (Non Open Market) at $50.73 - $50.73 per share. $599,0002

                                                (Source - http://finance.yahoo.com/q/it?s=c )

                           TigerSoft Unique Measures of Internal Strength
              on its 2007-2008 Charts of Citygroup Were Shouting "SELL".


                           TigerSoft's unique tools made it very clear to anyone looking at a
              Citigroup chart in 2007 that insiders were dumping the stock.  And when

              insiders do this, big troubles follow.  The clear message is always the same
              when our Accumulation Index, Closing Power, ITRS and Day Traders'
              Tool indicators look as bearish as they did from early 2007 to the present,
              in 2008.  The mesage is that bankruptcy looms as a real possibility. 

                     If you are using TigerSoft, this is what you have to watch for to
              find a stock that could go to zero, either to avoid to sell short.  We note in
              blue the readings that are only available to TigerSoft.   The bearish signs
              to look for are:

                    1) TigerSoft's unique Accumulation Index turns from positive (blue) to negative
             (red) and stays there for months at a time, often going below -.25.

                         2)  TigerSoft's unique Closing Power indicator goes into a steady decline
             for six months and makes a new low ahead of price making a new low.

                         3)  TigerSoft's unique ITRS (Relative Strength) indicator goes below 0
            and stays there for six months. 
                    4. TigerSoft's unique
Day Traders' Tool goes into a steady decline
             for six months and makes a new low ahead of price making a new low.

              
  See 165 Page Book "Killer Short Sale Techniques in Any Stock Market Environment"  

                        When the TigerSoft indicators become this bearish, you will also see
             classic head and shoulders tops and a very weak On-Balance-Volume Line,
             where its rate of descent is much more rapid than the early price decline.
             This is because the stock is often being held up articially.

                These are the signs of insider distribution and hasty insider dumping.  Word
              of their selling has gotten out and a growing number of institutions are selling
              their huge positons.   TigerSoft's key indicator, the Accumulation Index,
              was invented by me, William Schmidt in 1981.  Over the years, attempts have
              been made to copy it and pass it off as someone else's by intellectual property
              thieves.   Mark this. Checking this.  They deserve notoriety, not celebrity status.
              But there they are pontificating on television.  The Accumulation Index was
              invented it to let me rank and compare a key and powerfully predictive element
             of a stock's behavior.  This is a powerful tool.  When the Accumulation Index
             turns very positive (blue), it let's us see when insiders are buying a stock in a
             way that predicts a big advance.  And as you can see below, steady and deeply
             red readings from this indicator tell us the stock is being distributed by insiders
                to less well informed investors.


                           Massive Insider Selling at Citigroup - 2007-2008
                                          

    ---------------
CitiGroup's Chart Turned Very Bearish Early in 2007 -----------
                                                           C - 2006-2007
wpeF7.jpg (88202 bytes)
                                                                                   
TigerSoft's Closing Power
wpe12A.jpg (13319 bytes)
                                                                              
TigerSoft's Day Traders' Tool
wpe12E.jpg (15869 bytes)
wpe130.jpg (23390 bytes)
  ====================================================================   

     ---------------
CitiGroup Showed Massive insider selling in 2007 -----------
                                     Shareholders should be "mad as hell."
wpeF7.jpg (49162 bytes)

    

     --------------- CitiGroup
Showed Massive Insider Selling in 2008 -----------
wpe12A.jpg (68808 bytes)                                                       
Note bearish down-trending Day Traders' Tool
wpe12E.jpg (12088 bytes)
                                                        
Heavy Red Down-Day Volume is bearish.
wpe130.jpg (13864 bytes)
             
  
   The Famous Insider behind The Bearish TigerSoft Charts


                                       Robert Rubin, The Bubble and The Crash of 2007-2008


                                             Robert Rubin - The Architect and Main Advocate
                                                     for Using More Leverage at Citigroup

                
                            Citigroup insiders and analysts say that its former CEO until 2007 and Rubin played
                        pivotal by drafting and implementing a "strategy that involved taking greater trading risks
                        to expand its business and reap higher profits."  In fact, it was Rubin who explained the
                        benefits of being more aggressive to the new CEO, Charles Prince, in 2002 and how
                        best to do so.  ""Chuck was totally new to the job. He didn't know a C.D.O. from a grocery
                        list,   so he looked for someone for advice and support. That person was Rubin. And Rubin
                        had always been an advocate of being more aggressive in the capital markets arena. He
                        would say, 'You have to take more risk if you want to earn more
.' " (Source. )

             wpe12A.jpg (13879 bytes)   wpe12E.jpg (2505 bytes)  wpe13A.jpg (15005 bytes)
                       Besides, Bush ("Bankruptcy - Mission Accomplished")
                            and Paulson - Pimp for His Wall Street Cronies,
                                     Shown above Are The People Who Caused the 2007-2008 Collapse
:
                             Democrat Rubin and Republicans Greenspan, COX (SEC) and Phil Graham

                             Clinton's Ex-Treasury Secretary, Robert Rubin, is now dancing quickly away from
                       controversial Citigroup.  But the fact remains that "(h)e has collected more than $150
                       million in cash and stock over eight years to serve as the bank’s elder statesman, meeting
                       with important clients and building relationships with government and business leaders
                       around the world, though his contract states that he is to have no daily operational
                        responsibilities.
" (Source.)  


                       RUBIN KNEW THE RISKS AND TRAGEDY HE WAS CREATING.

                       The proof is that he himself sold out at the top.

                                  Insider Selling by Robert Rubin at CitiGroup         

                              As much as anyone in Citigroup, Rubin advocated using more leverage to make
                        more loans to make more money.  A year ago I noted that he must have known dire trouble
                        was going to engulf CitiGroup as a result of its use of levevage and its lack of controls
                        on the quality of their loans.  So, Rubin sold more than 600,000 shares when the stock was
                        between 33 and 55 and he turned down the CEO job.  He denies this. He claimed that 
                        "Few if anyone" anticipated the financial meltdown.   Not remotely true.   See NYU Professor
                        Nouriel Rubini's dire warnings to International Monetary Fund in late 2006 and ever since.

                                                                       NY POST ARTICLE

                              NY POST ARTICLE and Robert Rubin

"Rubin, the Clinton administration treasury secretary who successfully engineered the bank deregulation that made so much of the current mess possible, was appointed to the Citi board in 1999.

Then, it seems, things began to happen.

That is, Rubin apparently undertook to test the limits of his new banking rules.

In a 4,076-word autopsy of Citigroup's "rush to risk," The New York Times on Sunday labeled Rubin "an architect of the bank's strategy."

It describes him as having "pushed to bulk up the bank's high-growth fixed-income trading," including risky debt instruments.

Risky is hardly the word for it - though in mid-2007, according to the newspaper, Citi brass claimed that the likelihood of subprime mortgages actually defaulting "was so tiny that they [were] excluded from their risk analysis."

And this was after Bear Stearns imploded, telegraphing the full scope of the crisis.

Citi's CEO at the time, Charles Prince, never questioned the preposterously rosy assessment.

Nor did then-board Chairman Winifred Bischoff, who was paid $6.1 million and got a low-interest loan of $343,390 in 2007.

What were they thinking?

Did the prospect of ballooning profits totally blind them all to the risk?

Rubin left the board in August 2007, having stuffed his pockets with $107 million from Citi since '99.

The following November, Prince was fired - walking off with company stock then worth $68 million, according to the Times, and a bonus for 2007 of $12.5 million.

In the end, federal regulators had no choice but to structure yet another corporate bailout - this time to rescue a bank with $2 trillion in assets, more than 300,000 employees and operations in more than 100 countries.

Just letting it collapse would wreak global financial havoc.

But to rescue it without calling out those who engineered the disaster would be an affront to justice.

There should be no mistake about where the responsibility resides.

That would be with the Citigroup board of directors - and Robert Rubin in particular.

  ( http://www.nypost.com/seven/11252008/postopinion/editorials/bounce_these_bozo_bankers_140652.htm )



                                THESE BANKERS KNEW THAT THEY WERE COMMITING FRAUD

                             All these bankers knew they were making poor quality loans.  They knew it.  They
                        did it anyway, because someone else, they calculated would own the bundled mortgages
                        they way selling as AAA quality to investors around the world.  "There's really no profit in
                        remaining ethical. Perhaps we should teach our children to incorporate, then rip off every
                        single sucker they can and retire at 40. Join a a gang and commit crimes under mob rule -
                         that's the ticket to success in the good old U.S. of A. it seems to me.
  I don't think any of
                         them are even the least bit ashamed.
" (Source.)   "Whistle blowers (people who complained
                         that 'this ain't right') were fired, excluded, demoted, transferred away from Realty Agencies,
                         Mortgage Brokers, Banks and Appraisers offices across the country - The reason I call them
                         whistle blowers because it's become apparent that the people calling foul in the mortgage
                         lending industry were correct, while they were punished by their peers both financially and
                         emotionally for pointing out the moral hazards of their occupation
."  ( Source. )  "Honest
                         appraisers and loan officers were penalized, blacklisted, not payed and fired. "Recently while
                         talking to a senior underwriter for a major Wall Street bank, she shared with me that she
                         had witnessed the sinister inner workings of the lending industry first hand. The underwriter’s
                         job is to provide an unbiased assessment of the risk level of a particular loan.
" ( Source. )   

                                          Robert Rubin's Role in Making The National Housing Bubble
                               
                                As Treasury Secretary for Clinton, Robert Rubin lobbied hard to get the President to
                         allow banks to get into the securities' business, thereby giving them new reason to make
                         unsafe loans and exaggerate their safety as they package them to others to invest in.
                                           (See
TigerSoft Blog and News Service - 9/21/2008 - Monopoly Finance)

                                                     

                            WHY DOES RUBIN STILL HAVE A JOB AT CITIGROUP?

Citigroup's risk models never accounted for the possibility of a national housing downturn, this person said, and the prospect that millions of homeowners could default on their mortgages. Such a downturn did come, of course, with disastrous consequences for Citigroup and its rivals on Wall Street.

They never factored that housing prices would drop?  Really?

[W]hile Mr. Rubin certainly did not have direct responsibility for a Citigroup unit, he was an architect of the bank's strategy.

In 2005, as Citigroup began its effort to expand from within, Mr. Rubin peppered his colleagues with questions as they formulated the plan. According to current and former colleagues, he believed that Citigroup was falling behind rivals like Morgan Stanley and Goldman, and he pushed to bulk up the bank's high-growth fixed-income trading, including the C.D.O. business.

Former colleagues said Mr. Rubin also encouraged Mr. Prince to broaden the bank's appetite for risk, provided that it also upgraded oversight -- though the Federal Reserve later would conclude that the bank's oversight remained inadequate.

Once the strategy was outlined, Mr. Rubin helped Mr. Prince gain the board's confidence that it would work.

After that, the bank moved even more aggressively into C.D.O.'s. It added to its trading operations and snagged crucial people from competitors.

No wonder Wall Street media is standing there with pitchforks and torches calling for Rubin's head this morning.  A WSJ op-ed wonders "Why are Robert Rubin and other directors still employed?"  New York Post says "Citi of Fools:  Negligent bank board must quit."

 

Yes, it's incredible that nobody required Rubin and the board to resign as a condition of the Citibank bailout.  But I tend to look at these final days as the BushCo crooks holding their final heist, taking advantage of the fact that something must be done immediately to keep the economy from hurling into a ditch.  They have the ability to impede anything from happening, and they're holding us all hostage and demanding the right to steal as the price of their acquiescence.  What's Obama supposed to do?  If he calls bullshit, the fragile markets could tumble.  He's in a position where he really has to just do what he can.

 

What I'm more concerned about is the key place Rubin still occupies in Team Obama:

Geithner, Summers and Orszag have all been followers of the economic formula that came to be called Rubinomics: balanced budgets, free trade and financial deregulation.

There are many who are arguing that ideology is not important, and that Obama is prizing competence over philosophical perspective.  Glenn Greenwald does a nice job of arguing that competence is largely a function of ideology -- and from a pragmatic perspective, progressives (who are almost entirely left out of Obama's key administration appointments) got a lot of things right.

  Source:  http://www.huffingtonpost.com/jane-hamsher/is-robert-rubin-competent_b_146372.html



                Compare  Citigroups' Charts with Other Stocks
               That Went or Are Appraching Bankruptcy.


                                                                 General Motors
wpe130.jpg (45081 bytes)
wpe13A.jpg (14835 bytes)

                                                                BEAR STEARNS
wpe13E.jpg (49203 bytes)
wpe13B.jpg (49569 bytes)
wpe13C.jpg (14163 bytes)
wpe13D.jpg (23785 bytes)
       
wpeF7.jpg (37246 bytes)
                                                        
                                                                 FANNIE MAE
wpeEA6.jpg (42053 bytes)

                                                                FREDDIE MAC
FRE.GIF (12654 bytes)
                                                           
                                                                LEHMAN BROTHERS
wpe12E.jpg (73979 bytes)

                                                                 WASHINGTON MUTUAL
wpe12A.jpg (93569 bytes)

                                                                TRUMP
                  wpeF7.jpg (125370 bytes)
                                                         
                                       Northern Rock


wpe12A.jpg (64552 bytes)

  

                                                       
                                    

        See many more examples  http://www.tigersoft.com/Insiders/index.html
                                                http://www.tigersoftware.com/TigerBlogs/May-14-2008/index.html
                        
 
          
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