Citibank below US$2

Nice posting...Scotty...scary... Stage four liao...Credit Melt

The US government has already committed half a trillion dollars to these two firms which is more than 10 times the amount it would cost to buy and control both companies. The market doesn’t believe that $500 billion is enough to save these companies.
All the kings horses and all the kings men can’t  put humpty dumpty back together again.

Today both banks made fresh new lows with Citi closing at $2.51 and Bank of America closing at $3.93. The 1 year charts below show the short term price movements. You should understand that when a bank stock’s chart looks like this, even a HEALTHY bank would be in trouble. Nobody wants their deposits tied up in a company that trades at $2. The outflows of deposits from Bank of America and Citi must be catastrophic.

Ironically, with all these trouble, Citi is still <ADV> in our national TV as recent as weeks ago.  Title : Citi Never Sleep.

Citi Never Sleep because Opportunity Never Sleep......blaf blaf.....

When I saw the ADV, I was wondering Citi how to sleep, can sleep but sure got nightmare......heeeeee.....

I think they are a bottomless pit, first 700B now 890B.....How many B is enough ?

Some economists are suggesting pressing the reset button......cheaper...