Friday, February 27, 2009

Citibust Bank

That idea didn't go so well for the taxpayers, did it?!
Conversion price = $ 3.25 per share. Friday's closing price - $ 1.50 share.
In eight hours U.S. taxpayers lost more than 50 percent of their investment in Citibank. Let's see, now .... $25 billion in preferred shares x .54 loss on the day = $11.5 billion left in preferred value. Zombie!

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