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Citigroup Inc. Message Board

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  • profit_guy profit_guy Nov 24, 2008 12:26 AM Flag

    MAJOR DILUTION, read again folks

    these longs here simply do not understand that the govt could care less about the shareholders, their primary concern is protecting depositors

    ...this deal is HIGHLY unspecified amount of preferred stock will be issued for the $300b backstop fee:
    "As a fee for this arrangement, Citigroup will issue preferred shares to the Treasury and FDIC."

    ...AND ADDITIONAL preferred stock will be issued for the $20b:
    "In addition, Treasury will invest $20 billion in Citigroup
    from the Troubled Asset Relief Program in exchange for
    preferred stock with an 8% dividend to the Treasury."

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