"It would take a Depression every bit as large and long as the 1930s debacle to shake this company's viability." So wrote analyst Richard Bove about Citi. He thinks the fears are overblown, even as he admits he has gotten several calls from people wondering if Citi was about to fail. There was a time not so long ago when the idea of Lehman Brothers failing seemed farfetched. While Bove recommends buying the stock, few people seem to be like minded. The recent sell off has been tremendous, and it could get worse if the stock dips below $5 a share. All this is happening even with the TARP injection. The banks will no doubt face pressure on all sorts of debts in 2009, chiefly consumer credits, and toxic assets. But the bank sports a 10.5 percent tier 1 capital ratio. That's plenty of cushion. Still, while the bank may survive and the stock may even bounce a bit, people are right to wonder about the future of the bank. 

For more:
- here's an item in the New York Times

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TARP news from FierceFinance