1. Joint statement by Treasury, Federal Reserve, and the FDIC on Citigroup - Released by the Board of Governors of the Federal Reserve System
2. 4 page Summary of Terms at FDIC
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U.S. rescues Citi with $20 billion capital - Dan Wilchins and Jonathan Stempel - The U.S. government has bailed out Citigroup Inc, agreeing to shoulder most of the potential losses on $306 billion of high risk assets and inject $20 billion of new capital, in its biggest rescue of a bank yet. - Reuters
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Written before Announcement:
Citigroup at last seems to be past the point of no return. Vernon Hill explains at bankstocks.com
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Citi slammed, but JP Morgan in greater need of capital: analyst - By Hilary Johnson - … Indeed, Paul Miller at Friedman Billings Ramsey calculates that J.P. Morgan may require at least $188 billion in additional equity capital, compared with $160 billion for Citi. Mr. Miller reckons that J.P. Morgan will need more capital than any of the the other largest banks—Bank of America/Merrill, Citi, Wells Fargo/Wachovia, Goldman Sachs and Morgan Stanley—or financial services giants AIG and GE Financial. … - FinancialWeek
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Will Citigroup Survive? Four Possible Scenarios - Stephen Gandel - 1. A Change in Management - click to read all four - TIME
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lays out possibilites - Citigroup May End Up With Government Rescue After Stock Skids - Christine Harper and Bradley Keoun - Bloomberg
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big article - Citigroup Pays for a Rush to Risk - ERIC DASH and JULIE CRESWELL - … In September 2007, with Wall Street confronting a crisis caused by too many souring mortgages, Citigroup executives gathered in a wood-paneled library to assess their own well-being. There, Citigroup’s chief executive, Charles O. Prince III, learned for the first time that the bank owned about $43 billion in mortgage-related assets. … - actually critices Robert Rubin - thanks Ira Artman - New York Times
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Citigroup Nationalization: How It Might Go Down - James Pethokoukis - The Bronte Capital blog lays out what I think is a fairly reasonable scenario for the nationalization of Citigroup — and probably other big banks, too. It would go like this … - US News Blogs





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