Friday, June 10, 2005

Citigroup cuts its Losses and pays up

This is one of the reasons why I own this stock. I am kind of like Prince Alwaleed bin Talal the so called Warren Buffett of Saudi Arabia who said he will never sell C no matter what occurs. I on the other hand may sell it but the chances are really, really low.

Citi knows when to just pay the money for something like the Enron screw-up instead of fighting it like Morgan Stanley is. Now the Citi CEO, Prince just has to work on not getting into these stupid scandals in the first place.

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