Monday, November 24, 2008

So Citigroup got a massive bailout yesterday...
$306b in loan guarantees
and $20b in infusion capital

this is in addition to the $25b the feds already pumped into it a couple weeks ago

so the question i have is... with a market capitalization of 20.54b... exactly how much of the company did the US just purchase. If the answer isnt 'all of it' - I want to know why. If the answer is 'all of it' I want to know why they didnt just say 'we own this now'. (on edit: the math seems to indicate this 20b will be worth about 40% of the company -- strike at $10.61) Some adult somewhere needs to stand up and just say 'we're nationalizing the banks - you investors get nothing' now - this peacemeal bullshit is only making the situation worse. They'd best hurry up too - because this situation is getting totally out of control.

Who's Next? Bank of America would be my bet... (Countrywide and Merrill on their books now... both giant sucking blackholes of shit)

Now - for your unicorn chaser... act fast

1 comment:

Karmadrome said...

I got mine. I'll get my coupon in...4 to 6 weeks. *sigh*

Thanks for adding the titles. My RSS reader loves you for it.