Rick Siegel Prespectives on Freedom and Liberty

Citigroup is about to get an $11 Billion dollar windfall from the backs of taxpayers. US citizens will accept an $11 billion dollar loss when government sells their stock in the next weeks. All it takes to figure it out is a bit of simple math based on news reports that contradict the loss claiming it is profit.

The US government has 7.7 billion shares of Citigroup and that represents 33.6 percent of the company. American subjects paid (with debt) $45 billion for that stock. Share price as of the date of this article were $.4,47 which brings the value of shares to be sold to $33.8 billion. A loss of over $11 billion that will be added to the debt US citizens pay to keep Citigroup in business.

All these figures are taken from a Reuters article claiming vast profits for the government in this sale. The spin makers think you do not have the ability to do the math. It is simple, you bought at $45 billion, and you sold for $33 billion you have not made a profit at all. The question is why is the government willing to sell at a loss and free Citigroup from regulation while handing them a huge gift out of your pockets?

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