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citibank Archives - Learn to Trade Options | #1 Options Trading Education

Cut Jobs, Raise Rates, Buy Shares

November 14, 2008

A day after Citigroup (C) hit a multi-year low and relaxed below $10, CEO Vikram Pandit’s bought some shares (~>US$8MM) and announced to axe another 10,000 jobs. He also decided to raise rates on credit cards. Weren’t they suppose to lower the rates when FED is even willing to go lower than 1%,…

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November 14, 2008
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