The headline on Yahoo’s front page read, “Gov’t reportedly mulls taking larger stake in Citi”. Hmm, I wonder why the government wants to invest in CitiGroup? Maybe I should buy some too! Geithner’s a real value-investor, looking at these beat-down dogs of the dow.

Maybe the headline should have read, “Citigroup insolvent, begs Fed for cash”. It’s a pretty sad attempt at spin. The market isn’t going to be fooled into thinking that the government is “mulling a larger investment” in Citi. They’re on life support and need cash to surive. C’mon Obama, follow through with that transparency stuff you talked about.

How much will the taxpayer get for our stake this time? Last time I believe we scored a 3.5% ownership stake in a $35 billion company for $25 billion plus $100b+ in loan guarantees. Now THAT is a deal.