21 November 2008

Citi Dead Pool

Well, we have the stock tanking by 25% yesterday, and Its CEO Vikram Pandit denying reports that it is looking for a buyer.

I dunno, its market cap has dropped from $274 billion to $21 billion in a couple of years, and $21 billion sounds a lot like a handful of beans.

We have reports that "non core" assets might be sold off, and there are leaks that notwithstanding Mr. Pandit protestations, that they are looking to merge with someone.

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