UPDATE: It gets even stranger. The bankrupt-since-October-2008 Lehman Brothers is going to pay $50,000,000 in bonuses for this year. (h/t alea’s Twitter feed)
It appears all of the “gosh, we really made a lot of money from bailing out rich bankers who socked it to their customers” rhetoric is having a small problem in the realization:
The U.S. government abruptly shelved plans to start trimming its 34% stake in Citigroup Inc., after investors demanded a price so low that the Treasury Department would have lost money on the deal….
The huge offering encountered a lukewarm reception on Wall Street, where investors were skeptical of the company’s earnings prospects…
Gosh, golly, gee. Really? I wonder if that’s a recent phenomenon:
(Recession period—still not officially over—shown in cyan.)
Hmmm. Guess not. Ah, well, there’s always next year. Or the year after. Or…