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The Treasury and Federal Reserve Sunday night were moving to stabilize Citigroup to prevent the giant New York bank from being the latest to succumb to a death spiral in financial markets, according to a source familiar with the plan.
In what would be the government's most momentous and perhaps most desperate action to date to stem the banking crisis, the Fed would take on some of the monumental losses that Citigroup is likely to face on its gargantuan portfolio of troubled loans. Will the federal invest more capital into Citigroup in 2008? src: http://washingtontimes.co...
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