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LOL Rookie
I do this for a living
Citibank UNDER $1 a share from 50.
DOES THAT look like Obama's fault to you? Fear of Obama has people selling their stocks for 2c on the dollar?
C: Basic Chart for CITIGROUP INC - Yahoo! Finance
The goverment now having poured in $50 Billion and gauranteeing another $270 Billion in debt of Citi alone.
So Yeah.. it's a no Brainer.
(except for you)
Even Now Citibank is $3 a share Under water in Book value on a 'mark-to-market' net value.
Where do you think Citi would be without that Moola and Gaurantee?
Citi was 97 cents a share/A Penny stock until the govt gave it Huge bucks.
Bankamerica given another $50 Billion down to virtually -0-
BAC: Basic Chart for BK OF AMERICA CP - Yahoo! Finance
Merrill Lynch BROKE and forced INTO Bankamerica to save the System.
Wachovia, Gone.
Washington Mutual, Gone.
Lehman, Gone.
AIG, Gone.
Scores more.. GONE.
ALL The banks and brokers borrowing from the Fed as there was NO commercial paper market.
The system was Frozen/DEAD. Everyone was B- R -O -K -E.
Anything else SON?:
Their doing so bad now Obama wants to tax them. They paid it back quickly telling me they weren't in that much trouble.
Yes Obama doing this caused negative publicity which I am suer is hurting them.
Obama is abusing power by taking shares in these companies. This is a government take over. He did it to the auto companies and banks.
Citibank to Pay Back $20 Billion Bailout | News10.net | Sacramento, California | Local News
Citigroup is repaying $20 billion in bailout money it received from the Treasury Department, in an effort to reduce government influence.
The New York-based bank was among the hardest hit by the credit crisis and rising loan defaults. It received $45 billion in government support as part of the Troubled Asset Relief Program.
Citigroup Inc. only has to pay back $20 billion because the remaining $25 billion was converted into a 34 percent ownership stake in the bank earlier this year.