Uncle Sam is about to increase control of CITIgroup & Bank of America. US Govt. will convert up to $ 25B of the preferred, own up to 36% of the CITI Equity!Roubini believe the best way to go is to fully Nationalizing Citi and Bank of America! He claims that nationalizing is the only way to fix & "half" nationalizing kind like "Half-Pregnant". You just can't do that! He believe Full Nationalization is more market friendly.
Talking about the price of CITIgroup Inc, a sharp drop of 92.05% from the very peak to 1.51 now! Lot of people "die" for this. Bloody hell!
Hopefully US Govt. get the BEST from the committed $9 Trillion for rescue of their financial system! Go Obama !
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