The Reckoning: Citigroup Pays for a Rush to Risk

Eric Dash and Julie Creswell, The New York Times: "Even as the first shock waves of the subprime mortgage crisis hit Bear Stearns in June 2007, Citigroup's top executives expressed few concerns about their bank's exposure to mortgage-linked securities."

//www.truthout.org/112308A



Citibank: Another Crisis, Another Guarantee

Floyd Norris, The New York Times: "Guarantees that could not be honored thrust the world financial system into its worst crisis since the Great Depression. Will a guarantee by the United States government finally restore confidence in the American financial system?"

//www.truthout.org/112408C



Citigroup Gets $306 Billion Rescue From Government

Reuters: "The US rescued Citigroup Inc, agreeing to shoulder most losses on about $306 billion of the bank's risky assets, and inject new capital, bolstering investor hopes that the government will support big banks as the economy sinks into recession. The bailout, announced late Sunday, gives the government the right to buy an equity stake, and marks its latest effort to contain a widening financial crisis that has already brought down Bear Stearns Cos, Lehman Brothers Holdings Inc and Washington Mutual Inc."

//www.truthout.org/112508J

--------

Citigroup makes second run on bailout buffet

Bloomberg

11/24/08

Citigroup Inc. will have more than $300 billion of troubled mortgages and other assets guaranteed by the U.S. government under a federal plan to stabilize the lender after its stock fell 60 percent last week. Citigroup also will get a $20 billion cash infusion from the Treasury Department, adding to the $25 billion the bank received last month under the Troubled Asset Relief Program. In return for the cash and guarantees, the government will get $27 billion of preferred shares paying an 8 percent dividend...

//tinyurl.com/5ouggw


Informant: Thomas L. Knapp

--------

Citibank Flips The Bird To American Taxpayers

By The New York Crank

Last week, while Congress was engineering a bailout package of the taxpayers' money to rescue Citibank and save the economy, Citibank was sending out notices to its cardholders of a new and usurious policy - a policy that could drown consumers and help sink the economy.

//www.informationclearinghouse.info/article21316.htm



Citizens' Economic Stimulus Plan

By Richard C. Cook

Almost nothing has been done to help the consumers within the producing economy who have lost trillions of dollars in the stock market crash, seen the value of their homes fall in many cases below what they owe on their mortgages, and lost jobs or health benefits through the escalating recession.

//www.informationclearinghouse.info/article21315.htm



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