With the purchase of Wachovia, CEO Vikram Pandit’s Citigroup singlehandedly holds 9.8% of all US deposits, or $600 billion.
This will significantly raise Citi’s value by next week when Jamie Dimon buys them, not for their assets or market position, but because One Wachovia Center will provide an excellent base of operations for the inevitable air raid against Bank of America, four blocks away.
alyx // Sep 29, 2008 at 10:35 am
^^ EPIC lulz!
LOLFED » This Is Why I Am Not A Professional Journalist // Oct 3, 2008 at 7:16 am
[...] of the no-prize because, let’s face it, it made a better pun. And then a better play on Vikram Pandit’s surname. The moral of the story is, if you want useful financial information, stick to alyx’s [...]
LOLFED » Saturday Poll and Last Man Standing Results // Oct 25, 2008 at 7:49 am
[...] that leave us with Vikram Pandit, who tried to grab Wachovia, failed, filed a number of lawsuits and has dropped off the radar as of late, leaving us to wonder [...]