Citigroup: Control Gone Long Time Ago

Citigroup (C) and other banks in negotiations with the financial cavalry apparently will be giving up voting control and equity positions within the banks that are supported. The voting control was all but gone a long time ago. When the Fed and Treasury has to bail out problems by the hundreds of billions the so called vote that shareholders had does not count for anything.

The regulators are driving everything now. The problem is that they are still relying on information from the sick patient and the information is just wrong and inaccurate.