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Report: Citigroup may need $10B in extra capital

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posted on May, 2 2009 @ 02:42 AM
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Report: Citigroup may need $10B in extra capital


www.usatoday.com

NEW YORK (AP) — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.

The New York-based bank is negotiating with the Federal Reserve and may need less capital if it is able to convince regulators of its financial health, The Wall Street Journal said on its website. The report cited people familiar with the matter.

A Citigroup spokeswoman said the bank had no comment on the Journal story.
(visit the link for the full news article)




posted on May, 2 2009 @ 02:42 AM
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This is not looking good. An extra 10 billion? That is a lot of money to have to raise. I certainly hope they can accomplish this because, if they can't, then the government is going to give them more of our tax dollars. The very last thing we need at the moment is more bailouts. We don't even know where the bailout money the banks have already been given has gone, and now they want to give them more?


TA

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



posted on May, 2 2009 @ 03:09 AM
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I don't understand. "Bail outs" ?

Why are we still even playing this game? This has gone far beyond 'ridiculous' already.

Anyone who still has a job at this point, stop paying taxes. It is doing the country no good. Hell, take up some overtime where possible and just send your paychecks to the government to disburse amongst themselves, the bankers, the global elite, and whoever.

Our money is worthless, and not doing us much good anyway.



posted on May, 2 2009 @ 03:12 AM
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They have already increased their TCE over 4% over what the Gov. is requiring with the conversion from preferred to common

This will not close this company, but the opposite

The market has already priced this into the stock and the banking sector

End of story




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