Occidental Acquires Phibro from Citigroup

Occidental Petroleum acquired commodity trading group Phibro from Citigroup for $250 million. Over the past five years, Phibro has earned $371 million per year.

Seems like a complete steal to me - less than 1x annual earnings - I can only guess that the government hates traders so much that they forced Citi to sell the group, as the government forced GM to sell Hummer.