Citigroup, would you please just go away?
By Dale Terry
Citigroup, one of the largest banks in the world and recipient of at least $25 billion from the TARP, saw it's shares sink to record lows with the market slashing it's price to under $4.00. Fears of huge loan losses that have not been written off its books caused the stock price to drop by over 50% last week. Investors were concerned that the liquidity of the bank is in question and that the government make create a takeover of the company that would wipe out common shareholders. Since there are few companies that could absorb the huge banking giant, the government is sinking further into nationalization of our banking industry. These types of actions only delay the effects of free market actions by protecting troubled companies at the expense of companies that have shown better ma...