Citi Weighs Its Options, Including Firm Sale

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.

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[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.



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(visit the link for the full news article)