A reader, Joe Spencer, reminded me:
Way way back on Feb 27 2009, the U.S. government waded deeper into the bailout of one of the nation’s largest banks Friday when it announced a deal that will give it control over as much as 36% of Citigroup’s common stock.
Citigroup shares plunged about a third in midday trading on the news.
So Obama bought 36% of Citi for $3.25, the wingnuts went crazy, it was a communistic socialism fascist takeover of the banks etc etc …
Today Citi closed at $4.22.
Thank you, Mr. President.
Jim Cramer can suck it. President Obama should be hosting a show on CNBC.