Thursday, January 15, 2009

Destroy The Country, Save The Citi

Bailouts might be justifiable if common stockholders were wiped out and the gov't had voting shares. Otherwise, just a big bonfire of cash! WHEEEEEEEEEEEEEEEE

Jan. 15 (Bloomberg) -- Citigroup Inc. plunged as much as 25 percent in New York trading on concern the bank may be forced to seek more government assistance on top of the $45 billion of U.S. funds that it already received.

“Citi’s got their hand out from now ‘til the end of time,” said Peter Kenny, a managing director in institutional sales at Knight Equity Markets in Jersey City, New Jersey.