"The trouble with the share sale underscored the lingering worries over Citigroup’s financial health and raised concern that the bank’s eagerness to free itself from government oversight on issues such as employee pay might come at a high cost to shareholders. It also may heighten pressure on Citigroup’s chief executive, Vikram S. Pandit.
Citigroup attempted to sell stock only a day after another giant bank, Wells Fargo, held a similar sale to raise money to pay back its bailout money.
The development followed news earlier Wednesday that the Abu Dhabi Investment Authority had filed a multi-billion dollar arbitration claim claiming “fraudulent misrepresentation” on the part of Citigroup after the government-run fund’s $7.5 billion investment in Citigroup went south."
it's just disgusting behavior.
by the way, this is my 500th post.