what business has become
By Tom Teicholz at 25 November, 2008, 4:16 pm
As Citibank has taught us, the business of Citbank is not banking but keeping its stock price high. One might think that the stock price should correlate to the actual business, how they are doing, what they are making, how successful they are — but we have all seen in the past months that the stock market is a confidence game, literally.
If nobdoy believes Pandit when he says Citibank is healthy then the stock tumbles. Of course no one complained when stocks were overprices and overvalued so why should they complain when they are undervalued — but there is something fundamentally wrong with the fact that in recent months stock price determines whether people get fired.
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