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The most knowledgeable people about business, investors, and most smart economists are big investors, are staying away from Citigroup. Their stock has now fallen below $1 per share. I guess that shows that the people who really matter for the economy, businesses and investors, think of President Obama's failure of a plan to buy the banks. It doesn't matter what you want to call it, that is exactly what happened and by definition we now live in a facsist state because the government owns part of the banking system.
At this point the politicians in general are just playing people off of each other. The Republicans, like Rush Limbaugh, are sitting here hoping that the President fails so that they can get their power back and the Democrats are acting like they have a clue about something when they don't. As long as it looks like he is doing something, most of America won't investigate because our culture is a sad story with backwards values. You can walk around the streets of this nation and find a great number of people who know nothing about how their government works or how businesses work and they just want theirs. As long as they keep being told they will get health care from the government and that building up all of the roads will help them, they will be happy. Ignorance is bliss.
Thursday, March 5, 2009
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They won't buy Citi ever. Citi is worth 8 billion and they gave them 45 billion. Private corporations are the way to go. I just bought stock at Citi and I fully expect it to go up from here UNLESS something new happens which is possible. Right now, it's actually the best bank out there thanks to the injections.
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