And the longer they wait, the higher price they will pay. The worst thing for shorts is their dream of knocking down JPM next and then BAC, WFC, GS have been shattered. As I said yesterday, they start to go from disappointment from Saturday to depression on Monday.
$8/shr more cash and magical debt reduction for Citi. new preferred shares are basically a loan rather than dilutive. all positive for common shareholders. seek analysis you can trust and you will conclude common shares are ridiculously undervalued. the truth is out there. shorts are also way off the cliff.