Courtesy of Reuters:
Bank of America passes Citigroup in market value
Based on market capitalization, BAC is now worth $239.36 BILLION dollars, edging out Citigroup by $20 million.
I worked for Citigroup at Smith Barney when they were #1 and left to come back to Bank of America. I didn't leave Citi on very good terms, so I'm quite glad to see them dethroned. I'm even happier that we're the ones to take them down.
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Tuesday, August 08, 2006
We're #1!
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2 comments:
So now it's official. You don't just work for any man - you work for the really big man! Seriously, the rise of B of A has been amazing. But the bank consolidation movement has also been a little frightening. I give credit to B of A for growth. But here's also to the small, hometown banks and the credit unions too. May our grandchildren know them outside of the history books, that is!
Of course, we can't buy anyone for a while anyway based on current laws. So we'll have to make do with a presence in only 30 states.
Bank of America: Crushing the competition by buying them up.
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