Obama is Bush part 3

Smith Barney Math

The biggest problem facing banks right now is trust / credibility.

If 51% of Smith Barney is worth $2.5 billion, than the whole is presumably worth around $5 billion.

Citi CEO Pandit wants us to believe that $5 billion is equal to $10billion -- and somehow he doesn't understand why no one trusts the numbers on his balance sheet.

I am not trying to pick on Mr Pandit -- basic algebra skills seem to be eluding all the bank CEOs lately, and Hank Paulson too.