Economy Shrinks at Fastest Pace in 26 Years

Citi Gets Nationalized, Don't Call It Nationalization

The Government has reached a deal to buy 36% of Citigroup's common stock. The United States will now be the largest shareholder of the troubled bank (But don't call it nationalization). Citigroup announced another huge quarterly loss.

http://www.chartingstocks.net/2009/02/citi-gets-nationalized-dont-call-it-nationalization/



Citigroup Stock Costs Less Than Their ATM Fee

The shareholders have essentially been wiped out.
http://www.chartingstocks.net/2009/02/citigroup-stock-costs-less-than-their-atm-fee/



Problem bank list tops 250

FDIC reports that number of troubled institutions soared during the fourth quarter to the highest level since 1994.

http://money.cnn.com/2009/02/26/news/companies/fdic_banks/index.htm



Dow Jones Industrial Average marks worst February point drop in history

The S&P closed at 752.44 on Nov. 20, though the benchmark on Monday undercut that prior bear-market low.

http://snipurl.com/cseya



Govt: 'Mass Layoffs' Soared In January

Employers took a large ax to their payrolls in January, the government said Wednesday, and the cuts are likely to get worse over the next few months.

http://www.huffingtonpost.com/2009/02/25/govt-mass-layoffs-soared-_n_169898.html


From Information Clearing House

--------

Economy Shrinks at Fastest Pace in 26 Years

Jeannine Aversa, The Associated Press: "The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession."

http://www.truthout.org/022709T



http://freepage.twoday.net/search?q=economy+shrink
http://freepage.twoday.net/search?q=Citigroup
http://freepage.twoday.net/search?q=nationalization
http://freepage.twoday.net/search?q=FDIC
http://freepage.twoday.net/search?q=Dow+Jones+Industrial+Average
http://freepage.twoday.net/search?q=layoff
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=Jeannine+Aversa

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