zermux

Wall Street Breakfast: Must-Know News

It would seem to me that if the Treasury converts its preferred shares, in CitiBank, to common then they would be degrading the value of the taxpayer investment. When Citi actually goes under (due to SIV's, Loan Defaults, etc) the common will be wiped out and the Taxpayer investment of 45 Billion Dollars will have been squandered.

Best Option is Stress test quickly, then send the FDIC in, split up and schedule sale back into private hands. If they had done this months ago we would be 45 Billion Dollars better off.