More on Citigroup's surprise common offering

People are still jawing about Citigroup's surprise offering this week--the bank's fifth capital-raising effort in five months, notes MarketWatch. The bank raised $4.5 billion, more than the originally announced $3 billion. Still, Meredith Whitney, analyst at Oppenheimer, couldn't understand why the bank didn't hit the well for a lot more. She reckons the bank needs up to $15 billion more. William Tanona, of Goldman Sachs, told clients that the offering may have been the result of pressure from credit ratings agencies. That makes sense, given the massive preferred offering recently. So what's going to happen from here? Well, a dividend cut wouldn't be out of the question. Neither would a big investment from some third party. Nor would asset sales of some kind. A lot of uncertainty continues to surround the bank.  

For more:
- here's the MarketWatch article

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