Citigroup, Bank of America: Prisoner's Dilemma, Electronic Bank Runs and Nationalization

Citigroup (C) declined 61% from a peak of $4.10 to an intraday low of $1.61 over just 10 trading days. Bluntly put: Citigroup is dead.

Bank of America (BAC) declined 64% from a peak of $7.05 to an intraday low of $2.53 over just 10 trading days. Bluntly put: Bank of America is dead.

Dead actually means dead. It is unlikely they can survive the weekend... and if they do, they most definitely cannot survive the week...

Financial Ninja: Citigroup, Bank of America: Prisoner's Dilemma, Electronic Bank Runs and Nationalization