You now own a larger share of Citibank — thanks to Uncle Sam

While you were sleeping — the government just bought you some shares of Citibank.

I know–I know, most of you probably didn’t have any intentions of buying a bigger stake in this bank than the government already had, but according to CNBC this morning, our good ol’ Uncle Sam made a deal to hand over up to $25 billion to take up to an estimated 30 to 40 percent stake in the company.

Remind me to send our dear old uncle a sweet card on his next birthday saying “Roses are red, violets are blue, I like to keep my money safe, and so should you.”

I know — lame.

Anyhow, the story goes that they will match the private sector conversion, as they see the common stock as higher quality capital. This will eliminate the preferred dividend.

As for me, I’m still keeping my same due diligence list that I’ve mentioned in previous recent columns, with the only recent addition of Verizon making the list.

Just remember the usual disclaimer: Don’t base any of your investment decisions on anything you read here — do your own due diligence — or at least enough research to pick the right professional to do it for you.

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5 Responses

  1. mzzzzzzz cathleen, you are my hero. the world needs to listen to you cuz you’re about the only one getting it right. totally nailed it on proshares. do me a favor & use this wonderful invention called email and drop me a line. we’d made an unstoppable team.

  2. Just passing by.Btw, your website have great content!

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  3. Heard the news. Congratulations, pretty lady!!!

  4. Hey Pete did it ever occur to you she may not want to be your latest conquest detailed on Page 6? Face it, she’s too smart for you. Stick to making your date selections from the runways during Fashion Week.

  5. Yo Jim, Are you trying to play the buddy card with her? Do you even know her offline? I’ve known her for three years and saw her at the Boston conference last month. Mind your own freaking business. Cathleen’s just in denial that we’re perfect for each other because she had one long distance relationship that didn’t work out. Sooner or later she’s going to realize that New York and Boston aren’t this vast geographicical barrier she’s envisioned it to be.

    btw mizzzz cathleen, where are you spending the most time online these days? I need an online gps to keep track of you. Is it here, on EM, spotted, or that little town blog?

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