I got this note in an email from a good friend today and just wanted to share it and a bit more...
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)
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