Why Are We Bailing Out Citigroup? (Updated)
Citigroup is currently valued at about $20.5 billion. It received $25 billion from the Treasury already, and is now poised to receive another bailout. Here's how they got to where they are.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. He asked Thomas G. ...Posted in Outside The Beltway on November 24, 2008 10:45
Citigroup Below $5/Share
This could be a problem since many institutional investors and pension funds are barred from owning stocks below $5 dollars, and that could produce a massive sell-off of the stock that would further reduce the price. "That's the danger of crossing that $5 threshold," says Owen Malcolm, senior vice president of Sanders Financial Management in Atlanta. "They're (Citigroup) already in trouble. ...Posted in Outside The Beltway on November 20, 2008 18:20
