A ten year retrospective on Citi:
Citi’s share price is the lowest it’s been since 1998, currently at about $22.18. That makes it a pretty good proxy for the whole mortgage-debt saga.
Broader issues of banking meltdown aside for a moment, Citi’s stock ticked lower in opening trade on Tuesday perhaps on the back of a rather revealing statement from Sameer al-Ansari, the CEO of SWF Dubai International Capital.
Dubai’s neighbour, Abu Dhabi, has of course invested $7.5bn in Citi. Cue al-Ansari:
It will take a lot more than that to rescue Citi and other financial institutions.
Does he know something we don’t? Sources don’t come better placed when it comes to bank recapitalisation. It would be unusual had the DIC not been approached by Citi.
When then, can we expect the next Citi money shot?