The Obama administration is making final preparations to sell its stake in [Citi], according to industry and federal sources. At today’s prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.
On paper, the government’s 27 percent stake has grown in value to $33 billion. The size of the deal in the works has Wall Street buzzing. Only the stock offering by Japan’s Nippon Telegraph and Telephone, which raised $36.8 billion in 1987, was larger, according to Thomson Reuters.
If the teabaggers and Glenn Beck are right and the president really is a communist/socialist/Marxist/Maoist, he’d be totally kicked out of the club. You know, for being a flaming capitalist.