Citigroup Sells $1 Billion Of Paper Without An FDIC Assist (Video)
Jun 12, 2009 at 4:06 AM
DailyBail in Bailout Comedy, Citigroup, bailout comedy, bank bailouts, citi toilet paper, citigroup, citigroup sells debt, comedy video, feic backed debt, insnaity

It was miracle Wednesday in the disturbing land of soylent green shoots.  What the hell am I talking about?  Citigroup managed to sell $1 billion in commercial paper without an FDIC backing after the close yesterday.  But, there's that pesky coupon @8.25%, about 4.5% above Treasuries.  That's not cheap money, and it demonstrates that risk taking and certifiable insanity are closely related.  Citigroup paper can be found at your local supermarket in absorbent rolls of 8 or 16.

 

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