When Chuck Prince at Shitigroup uttered his famous “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing,” in 2007 he basically told everyone to get bent.
Fast forward to when Greenspan was moving aside and the announcement of Bernancke-which was a widely covered event in the financial world-they quietly slipped in the change of CEO's at C. It was at the exact moment of BB's announced nomination that C pushed out the Vikram Pandit was to be the new CEO at C.
He came from Morgan Stanley-left in 2006- but did a short stint heading Old Lane LLC which was bought by C in 2007. Old Lane had a big chunk of C shares so they just set this up to slide him in. The CEO at time, Win Bischoff, came from Lloyds Banking group and was merely a placeholder for Pandit.
Dopey comes into this via his huge equity stake of C for years as the single largest shareholder via Kingdom Holding Company.
He kept adding to it leading up to the '08 crash.
Imo it was only to protect the huge holding he already had.
BTW C is really a really a $6.30 equity as they did a reverse split 10:1 in 2011.
Citigroup Inc. (C)
63.12+0.65 (+1.04%)
https://money.cnn.com/2011/03/21/news/companies/citigroup_reverse_stock_split/index.htm
It's just an accounting trick really to make something appear to be moar valuable. A stock split is the opposite as it's intent is to make it seem moar affordable.
When stock's split it's like the kiss of death on the long side…very rarely do they keep going as in either case it is a sleight of hand to produce a desired result.
If you sell at that event it's great for you…buying at that one is the sucker in the room.
get a ride or drive something like that and you will change your tune. I like all cars but the issue with supercars are the people that buy them. They give these things a bad name.
The original mclaren's are one of the most sought after cars on the market.
The people that buy these rarely drive them and just have them for the wow factor. Trailer Queens..but the trailers are huge. I don't like that one bit. If you buy it..drive it. Who cares what it is worth.
This particular one won at LeMans in 1995 and it only really needed a beefier transmission and safety upgrades to satisfy the rules.