November 21, 2008 1:06PM
We’re Underwater at Citi
By Ray Hennessey
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Food for thought: Citigroup right now is trading at a value that puts its market capitalization at just south of $22 billion.
That means it trades at a discount to the $25 billion purchase price of the preferred stock purchased by taxpayers, through Treasury and TARP.
If you sold all the common of Citi, you could not raise the cash to pay back the taxpayers.
Doesn't seem like such a great investment, does it?
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Citi, it is finally pay back time for your company.
The crooks have finally come home to roost. Years and years of giving your customers the shaft has finally paid off.