Knight has a huge short on CMKX, and decided one way out was to sell their derivatives division (shorting division) to Citigroup, Citigroup cut a deal with CMKX at the meeting in Saskatch to help them out of a jam with their huge short that Knight created.
Doesn't he even know what derivatives are? And how exactly did he hallucinate the presence of Citigroup representatives on the fishing trip?