Citigroup Inc (C)

[spoonman]

Here's a very intresting take on C from yahoo board!!

Re: 8K Filed.........Link 10-Jun-09 05:04 pm you are wrong...if you submit your c-pp shares for conversion they will get converted...end of story.

Also I think only $41B will be converted...here is why

General: Pursuant to the Exchange Agreement with the U.S. Treasury, the U.S. Treasury will exchange an amount of its preferred stock for newly issued warrants of Citigroup and Interim Securities to match on a "dollar-for-dollar" basis with the aggregate liquidation preference of the preferred stock exchanged by all of the private holders of its convertible preferred stock issued in January 2008 (the "Private Holders") (the "U.S. Treasury Private Transaction").

If you read all that...it is saying it will only match dollar for dollar...C will only convert 20.5B total in public, trups and etrups pref. shares...that is $41B...and only 18B shares outstanding...they do not need to do $58B...and $41B will be $8B more than they needed...and would get them through an additional stress test...C can then take the 5B shares they did not issue during the conversion and wait for the PPS to rise to $6 maube $7 then sell 5B shares at $5...that is $25B then pay back the tarp...sounds like a plan to me