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Another Bailout for Citibank?
oWell ( Score Rank: User did not make predictions in the last 30 days ) oWell  |  was scored on 02-Dec-2008 (354 days ago)
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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  1. oWell oWell 354 days ago
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  2. oWell oWell 354 days ago
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    The federal government is injecting $20 billion into Citi (NYSE:C) and providing protection against losses on approximately $306 billion of loans and securities after an agreement was reached this weekend by regulators and officials from Citi. The troubled banking giant has seen its market capitalization go from $270 to just over $20 billion since the end of 2006.
  3. oWell oWell 354 days ago
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    The plan was confirmed.
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