I got this note in an email from a good friend today and just wanted to share it and a bit more...
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Morgan Stanley did its job: it managed to sell 1.5 billion of the government’s shares in Citigroup for a total of $6.2 billion, or just over $4.13 a share. That’s a good price, compared both to today’s close of $3.86 a share and to Treasury’s cost basis of $3.25 per share.
Just tell me I am wrong on this: It is strictly forbidden to buy or sell with inside knowledge. But the fed did everything it could do to sell their owned stocks at a better price at the cost of the taxpayer. THIS IS AGAINST THE LAW. (Here it is)
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AND if you want to get even MORE PISSED OFF then go read this FANTASTIC ZeroHedge post!
ZeroHedge: Guest Post: Extend & Pretend: Its Either RICO Act Or Control Fraud
Greg
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