Shares down 58% in the last week alone, is there any way for the US government to avoid buying it? The board's meeting today to look at a possible breakup. One alternative could be a takeover, but a) there aren't that many possible contenders and b) is it really a good idea to create an even bigger wobbly bank?
Yves Smith remembers a Japanese colleague: "Putting two sick dogs together will not create a healthy cat".

I'll be pleasantly surprised if both GMAC and Citi are still going by the end of the year...