Is Citi about to WAMU ?

I have no special insight into Citigroup (C) other than noting:

-Its been a huge round trip from 1995 to 2006 peak and back

-It traded 750 million shares today

-It gave up a quarter of its value. It trades like its going to go to zero.

Is Citi TBTF (too big to fail) ?  Are its liabilities that much greater than imagined? Can it be zeroed (like WAMU), and its assets and accounts divided between JPM and BofA ?

Prince Alwaleed has now (almost) gone roundtrip on his 1991 purchase — 17 years and nothing very little to show for it. (Not adjusted for splits — anyone know how many splits this has been thru since 91?)

Looks like Citi was around $2.50 when he made his buys, so the stock has a ways to go — but not far. Plus, he has reloaded a couple of times now, he may very well be underwater.

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