The BAC chart is starting to look like the C chart. Only took about 7 trading sessions for C to go from 10 to 3. BAC now sitting at 11. Though at least their market cap is a little higher.
We have a lot of small local banks that seem to be well managed and doing OK. Now they have to compete with the money center behemoths and all their free government cash. Doesn't seem fair somehow.
You may think C is toast, but you've overlooked the hidden message in the article -- C execs are buddies with the current administration and the one taking over in January.
"Although this article does not mention the chief architect, Sanford Weil and another member of the supporting cast Larry Summers, it does pay tribute to Robert Rubin who ..."
This is unfair. Larry Summers was not involved with Citigroup. He has been working as a managing director at one of the top hedge funds in NYC ... one that is in very good shape financially, and still hiring!
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