Banking, finance, and taxes
Citigroup (C): A Merger With Bank of America (BAC)
Published:
With Citigroup’s (NYSE: C) shares off from $55.55 to under $19 and concerns that it cannot weather another round of write-downs which may be coming for subprime paper, credit card debt, and troubled LBO loans, the quesiton is, who might take the bank over ?
High on the list would have to be Back of America (NYSE: BAC) which seems to have managed to avoid a lot of the LBO and subprime landmines.
BAC shares are off 30% over the last six months, while Citigroup is down 65%
Douglas A. McInyre
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