Economy

Barack Obama: Smart Capitalist Investor

A reader, Joe Spencer, reminded me:

Way way back on Feb 27 2009, the U.S. government waded deeper into the bailout of one of the nation's largest banks Friday when it announced a deal that will give it control over as much as 36% of Citigroup's common stock.

Citigroup shares plunged about a third in midday trading on the news.

So Obama bought 36% of Citi for $3.25, the wingnuts went crazy, it was a communistic socialism fascist takeover of the banks etc etc ...

Today Citi closed at $4.22.

Thank you, Mr. President.

Jim Cramer can suck it. President Obama should be hosting a show on CNBC.