What could possibly save Citi. The 20% expense cut, the axing of 52,000 workers, the $25b capital injection from the government, the capital raising exercise of a further $50b, the Saudi Prince's increase in stake. All that couldn't stop Citigroup's shares from plunging to 1994 levels. To put things in perspective, think of a company with market capitalization of $270b shrinking to just a tenth of that - in the vicinity of $25.7b.
Too big to fail? I sure bloody hope so. But the Treasury Secretary has refused to say anything except that "nobody should be so big". What's that supposed to mean?
If this mammoth bank goes under, I'd probably suffer a stroke. And die a poor man.
