BEIJING, PEOPLE’S REPUBLIC OF CHINA – From my vantage point here in Beijing this week, I find my mind drifting this morning closer to home and specifically back to Citigroup Inc. (C).

Shares are under pressure for reasons that most investors, particularly those who were looking for a repeat of Goldman Sachs Group Inc. (GS) – don’t understand – especially after a “favorable” conference call and results that were widely interpreted as positive. Others are taking it a step further and suggesting there’s a massive capitalist “conspiracy” at play in the financial sector – especially now that the government is so heavily involved.

While I’m not ruling out the fact that there’s some backroom-government maneuvering at work, my experience as a veteran trader suggests there’s a much more logical explanation – not unlike the infamous “Bin Laden Trade” rumor that I dispelled in the past, or the “Dark Pools” that I brought to light. Unfortunately – as was true of the Bin Laden and Dark Pools examples – the Citigroup case is shaping up as yet another example of a situation in which the proverbial “little guy” could get caught short once again as the Big Money crowd has its way and runs roughshod all over Wall Street.

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