Ladenburg analyst Dick Bove (who understandably underestimated the stupidity of the Treasury and on Sept. 12 stated his belief that "Banc of America will win the auction for Lehman Brothers.") has just whacked his target price for Citi from $14 to $6, and is projecting a 2009 loss of ($1.45), a whole buck lower than consensus estimates. Vik Pandit couldn't care less, as he is currently putting the finishing touches on his resume, and spinning his Old Lane experience in a favorable light.
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1 comments:
What about the Treasury was stupid re Lehman? Was it not making the Lehman bondholders whole?
As far as I'm concerned it's the only decision they actually got *right*.
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