Everyone's favorite Bank to bail out is Citigroup.
The chart shows the share price on January 20th at about $3.00. Just checked the net today and after the latest bailout the share price has soared to $1.50 and market capitalization to $8 billion (down from $275 billion or so in 2007). Let's see, 275 divided by 8 multiplied by 100 is...... (drum roll please )
2.9% !!!!
That's right folks, you can earn $115 million a year as a bank CEO and then retire with a big fat pension, turn a $10,000 share investment into $290 in 2 years and still get a bailout for your bank. What a sweet gig.
Don't you just love the justice? Let's have capitalism and profits for the super rich elite, and poverty and socialized losses for everyone else.
I love America! (Amerika??)
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