Tornado Alley (PROG)

[BullNBear52]

2 years ago they were buying back their own stock at $47 pps.

Fearing they would have too much capital, banks bought their own stock at high prices, benefiting shareholders who were fleeing. Now they must sell shares at low prices. Kathleen Shanley, a bond analyst at Gimme Credit, points out that in 2005 and 2006 Citigroup spent almost $20 billion buying back stock at an average price of about $47 a share. Now it is raising $7.5 billion from Abu Dhabi on terms that pay the Mideast nation 11 percent a year for three years. Abu Dhabi will end up with stock purchased at prices of $31.83 to $37.24. Buy high, sell low.

#msg-24921942

Speaking of Youtube, I'm constantly stunned at how much credence people put in it today.

However if you really want to understand the subprime meltdown this video does it quite well...

The SIV's explained. lol.