National And International Report / Treasury backs off Citi sto...
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#1 Dec 17, 2009
Thats not all you know- the $25 Billion they supposedly paid back... well not true.
Citi doesnât have to âpay backâ the remaining $25 billion. The government converted $25 billion of preferred stock into Citi common at a little over $3/share for the common (when it was trading at less than half that). The government now intends to sell its Citi shares over the next 6-12 months. It may come to more or less than $25 billion but Citi isnât on the hook for a shortfall if there is one.
Sweet deal were stuck with their toxic crap and they get huge bonuses
Didnât Obama just say he didnât become President so that he could bail out the " fat cat bankers on Wall Street " ?
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