Some good items elaborating on topics I’ve discussed in the past week: Paul Kedrosky says that the U.S. Venture Capital industry needs to shrink – by 50%. [my latest post on this] SubsidyScope presents some cool visualizations of the TARP money and other bailouts. (ht: Marcus Peacock in the comments) [latest post] Barrons analyzes the [...]
Posts Tagged ‘Citigroup’
Linkfest
Posted in Auctions, Budget, Finance, Health, Regulation, tagged Antitrust, Arbitrage, Auction, Budget, Citigroup, Google, Health, Regulation, Search, Stock Market, TARP, Venture Capital, Warrants on June 11, 2009 | 1 Comment »
Tracking the TARP
Posted in Budget, Finance, Macroeconomics, tagged Banks, Budget, Citigroup, Finance, Macroeconomics, TARP, Warrants on June 10, 2009 | 8 Comments »
The TARP continues to grab headlines, so I thought it would be useful to summarize how the TARP money has been used to date. As you may recall, the Troubled Asset Relief Program (TARP) created a pool of $700 billion that the Treasury Secretary could use to stabilize the financial sector. The following chart summarizes [...]
The Citigroup Anomaly Lives
Posted in Finance, tagged Arbitrage, Banks, Citigroup, Finance, Stock Market, TARP on June 9, 2009 | 25 Comments »
Summary: Citigroup securities are still violating the law of one price. Later this week, Citigroup will finally launch its offer to convert some preferred stock into common stock. That exchange has big implications for the government, which purchased preferred shares through the TARP program; after the exchange, the government will become Citi’s largest shareholder. The [...]
The Citigroup Anomaly
Posted in Finance, tagged Arbitrage, Banks, Citigroup, Finance, Stock Market, TARP on May 26, 2009 | 11 Comments »
Something is amiss in the market for Citigroup securities: prices are out-of-whack with standard arbitrage relationships. This suggests that (a) recent financial turmoil — or, perhaps, the policy responses to it — have undermined market efficiency and (b) some investors are over-paying.
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