JamesD

Confidence in Banks and Government While Fools Reign Supreme

The Feds' move matters in a big way, because it amounts to dilution. There's now no way for shareholders to make back what they've lost, even if Citi's balance sheet miraculously returns to its former glory. With the upside thus slashed, a share of C is worth much, much less -- and the market reacted with perfect logic. That's not foolishness. It's reality.