Cit is not C, they are two different banks. You need to really learn more about the stocks, if you are going to trade. There is a Citi Bank, which is filing for bankruptcy and than there is Citigroup (C).
Citi group is divided in two parts. city group and city bank. City bank was the real meat a bread earner and city group is just a political front. CITY bank is in chapter 11 that means automaticully whole city is in chapter 11. You can ask any accontant and they will tel you the similer thing.