Thursday, March 05, 2009

Citi dump

Citigroup annual stockholders' meeting, 2009

As of this writing, shares of Citigroup are changing hands at $0.99.

A commenter at MarketWatch notes that share certificates are now available at dollar stores throughout the land.

Will the certificates will be worth something as collectibles on eBay, like the Enron code of ethics? Nah, wouldn't think so. There will be so many defunct corporate dinosaurs, Citi won't linger in anyone's memory bank for long. Besides, memory banks will no longer be eligible for bailouts once the national debt can no longer be sustained by the U.S. government contracting with every printing company on earth to create fiat money.

Tell me: if Citi actually zeroes out, do I still owe someone for the balance on my Citi credit cards?

UPDATE: A bright spark of a copyeditor at MarketWatch contributed this headline today:

"GE's CFO tries to talk investors off the ledge."


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