Follow BeltwayBlips on TwitterU.S. rescues giant Citigroup
Published 11/24/2008 at L.A. Times - Politics
The plan involves a $20-billion infusion and guarantees on hundreds of billions in bad loans.
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The federal government rushed to the aid of faltering banking giant Citigroup Inc. late Sunday night, agreeing to invest $20 billion more and accept the lion's share of losses on more than $300 billion worth of the firm's troubled mortgage-backed assets.
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