PayBack Time For Banks

Posted by Kris | Thursday, June 11, 2009 | | 0 comments »

After the huge stock market run up, most US banks have taken opportunity to cash in by selling their own common stocks by the billions and later use that money to repay the borrowed TARP money. The reason given is that so that they do not fall into the restriction in giving hefty bonuses to their "talented" executives. Which in turn most likely to be one suggesting this action point. How ironic :P

DJIA is still going strong with each single day with no much sign of weakness at the closing bell. Each fall , will be promptly recovered with a sudden jerky ride to the positive arena,

Citigroup launches public exchange offers

Citigroup launches offers to exchange preferred stock into common, giving gov't 34 pct stake