It took Citigroup a week (C 29.83) to get $7.5 billion of cash from Abu Dubai, who would rather invest in stocks than in Uncle Sam's cash!
Since Citigroup got bailed out, Wall Street will turn their attention to Fannie and Freddie Mac, which also are too big to fail. They'll buy these stocks because they're next to get bailed out. Now you know why I advertised them this weekend.
And Meredith Whitney, the CIBC analyst? She'll have to be content to wrestle with her husband, JLB. The match is over with Citigroup. Her famous quote was, "No one had the moxie to put in print what I put in print."
Abu Dubai thanks her for her "moxie." They got Citigroup at a great price. And Bernanke, once again, got some time. And tonight?
The shorts lost theirs.