U.S. Agrees to Bail Out Citigroup

U.S. Agrees to Bail Out Citigroup

]www.marketwatch.com

TEL AVIV (MarketWatch) -- The U.S. government agreed Sunday night to rescue Citigroup Inc. with a plan that includes a $20 billion capital infusion, guarantees for as much as $306 billion of Citi's troubled assets, government control of executive bonuses, and limits on dividend payments.
The agreement with Citi , whose stock had dropped more than 60% in the past week to a 16-year low, and which had lost $160 billion of market capitalization in the past year, came after intense weekend negotiations with the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp., according to media reports.

(visit the link for the full news article)



[edit on 24-11-2008 by jsobecky]

Here we go again. Another major corporation being bailed out with our tax dollars.

The country is rapidly sliding into a socialist model. Citigroup will issue over $7billion in preferred stock to the gov't as part of the deal.

Citigroup stock has fallen sharply, more than 60% over the past few weeks.

So, who's next in line for a handout?


]www.marketwatch.com
(visit the link for the full news article)

Existing thread here:
www.abovetopsecret.com...

Please add further comments to the ongoing discussion.
Thank you







-thread closed-



for future reference:
Search ATS