Federal Tax & Bailout 2008

The Financials dropped -6.2% this week. Without help from the Fed, Humungous Bank & Broker could be called Tiny Bank & Broken. It is shocking how much capital has been lost to investors in this sector. From its high price just over 12 months ago, Citigroup (C) has lost more than a one-fifth of a trillion dollars of shareholder wealth, i.e., $200 billion in lost market capital plus the billions in new equity infusions. Do you recall what happened 12 weeks ago (WIR#14 April 6)? I wrote: This