National And International Report / T...

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

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

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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