National And International Report / T...

National And International Report / Treasury backs off Citi sto...

There are 1 comment on the TwinCities.com story from Dec 17, 2009, titled National And International Report / Treasury backs off Citi sto.... In it, TwinCities.com reports that:

The Treasury Department backed off a plan to sell some of its Citigroup Inc. shares Wednesday, dealing a blow to the bank's efforts to extricate itself from partial government ownership.

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Chimpy McPorkulus

Monroe, LA

#1 Dec 17, 2009
Thats not all you know- the $25 Billion they supposedly paid back... well not true.
Citi doesn’t have to “pay back” 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 isn’t on the hook for a shortfall if there is one.
Sweet deal were stuck with their toxic crap and they get huge bonuses

http://www.businessinsider.com/even-without-t...

Didn’t Obama just say he didn’t become President so that he could bail out the " fat cat bankers on Wall Street " ?

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