Joe <zir...@gmail.com>

 "Citadel is the clear winner in this transaction," said Bank of
America analyst Michael Hecht, in a research note entitled "Xmas comes
early for Citadel, shareholders get lump of coal."

Hecht said that Citadel's deal gives it a $3 billion asset backed
securities book for 27 cents on the dollar and $1.75 billion of
secured paper at 12.5 percent, and 84 million shares of stock "for
nothing."