Citi Weighs Its Options, Including Firm Sale, page 1

Citi Weighs Its Options, Including Firm Sale

www.foxnews.com

Executives at Citigroup Inc., faced with a plunging stock price, began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright, according to people familiar with the matter.

The internal discussions are at a preliminary stage and don't signal that Citigroup's board and management are backing down from their insistence that the New York company has ample capital, funding and strategic direction, these people said. But with the stock down another 26% Thursday, its worst one-day percentage decline ever, Citigroup officials have decided they need to reckon with a range of scenarios that were unthinkable only weeks ago.

(visit the link for the full news article)



[edit on 21-11-2008 by Bunch]

[edit on 21-11-2008 by Bunch]

If anyone had any doubt that we are on the edge of a cliff right now this should do it.

This basically a clear view that the bailout, the injection of money, and everything else that the governemt has try to do to stop this crisis has been a miserable failure.

Now expect Citi to be bought by a foreign government fund, and use that as a tool to direct policy on the U.S.



www.foxnews.com
(visit the link for the full news article)

Russian scientists reach buried Antarctic Lake Vostok
  Posted 4 days ago with 83 member flags

Google announces privacy settings change across products; users can\'t opt out
  Posted 17 days ago with 78 member flags

Monsanto quits as GM results announced (EUROPE)
  Posted 5 days ago with 72 member flags

BREAKING: Israel teams with terror group to kill Iran\'s nuclear scientists, U.S. officials tell NBC
  Posted 1 days ago with 69 member flags

Strange noises reported around North Battleford
  Posted 16 days ago with 67 member flags

FDA\'s New Claim: "Your Body Is a Drug—and We Have the Authority to Regulate It"
  Posted 8 days ago with 53 member flags

Ayatollah: Kill all Jews, annihilate Israel
  Posted 4 days ago with 49 member flags

Bill Gates Backs Climate Scientists Lobbying For Large-Scale Geoengineering
  Posted 4 days ago with 40 member flags