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.
Market Data 
Markets 
AI
