Monday, February 23, 2009
Citigroup, Bank of America: Prisoner's Dilemma, Electronic Bank Runs and Nationalization
Citigroup (C) declined 61% from a peak of $4.10 to an intraday low of $1.61 over just 10 trading days. Bluntly put: Citigroup is dead.
Bank of America (BAC) declined 64% from a peak of $7.05 to an intraday low of $2.53 over just 10 trading days. Bluntly put: Bank of America is dead.
Dead actually means dead. It is unlikely they can survive the weekend... and if they do, they most definitely cannot survive the week...
Financial Ninja: Citigroup, Bank of America: Prisoner's Dilemma, Electronic Bank Runs and Nationalization
Bank of America (BAC) declined 64% from a peak of $7.05 to an intraday low of $2.53 over just 10 trading days. Bluntly put: Bank of America is dead.
Dead actually means dead. It is unlikely they can survive the weekend... and if they do, they most definitely cannot survive the week...
Financial Ninja: Citigroup, Bank of America: Prisoner's Dilemma, Electronic Bank Runs and Nationalization
Permalink posted by markw @ 4:58 AM 
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