calculatedrisk.blogspot.com - 11/24/2008
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From the WSJ: U.S. Agrees to Citigroup Bailout Treasury has agreed to inject an additional $20 billion in capital into Citigroup under terms of the deal hashed out between the bank, the Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corp. ... In addition to the ...
krugman.blogs.nytimes.com - 11/24/2008
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krugman.blogs.nytimes.com —
Mark Thoma has the rundown of informed reactions.
A bailout was necessary - but this bailout is...
an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will ...
(more)
Citigroup
bloomberg.com - 11/24/2008
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bloomberg.com —
Nov. 23 (Bloomberg) -- The U.S. government agreed
to protect $306 billion of loans and securities on...
Citigroup Inc. ‘s books against losses, as it seeks to shore up investor confidence in the bank. Citigroup will, as a fee for the guarantee, provide ...
(more)
U.S. to Back $306 Billion in Citigroup Assets, ...
cnbc.com - 11/24/2008
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cnbc.com —
The U.S. government has agreed to guarantee over
$300 billion of Citigroup's troubled assets -- loans and...
securities backed by residential and commercial real estate and other such assets -- with conditions attached. These conditions are being ...
(more)
US to Guarantee Over $300 Billion in Citigroup Assets - ...
Comments
Blog Reactions
uggabugga —
We need a law: Everytime there is a story like this: WSJ: Government to Guarantee $300 Billion in Citigroup Assets ... Citigroup will have an extremely unusual arrangement in which the government agrees to backstop a roughly $300 billion pool of its assets, containing mortgage-backed securities among other things. Citigroup must absorb the first $37 billion to $40 billion in losses from these assets. If losses extend beyond that level, Treasury will absorb the next $5 billion in losses, followed by the FDIC ...
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WSJ: Citigroup, U.S. Near Agreement on Bad Assets
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CNBC Reports Government could buy $100+ Billion in Citigroup Assets
calculatedrisk.blogspot.com 11/23/2008 — From CNBC: Citigroup Update: Government Looking To Buy Assets The government is looking to buy substantial amount of assets from Citi like a good bank, bad bank structure. The Government will absorb much of the losses for citi if there are losses and ...
Time for the Government to Buy Citigroup
delong.typepad.com 11/21/2008 — No real point to merging it into JPMorgan Chase or Bank of America. And it is definitely too big to fail.
Who wants to be Deputy Assistant Secretary of the Treasury for Citigroup?
Peter Eavis:
Share Slump Tests Citi Limits : Following steep ...
WSJ: GM may get $5 Billion loan
calculatedrisk.blogspot.com 10/27/2008 — From the WSJ: GM May Get Loan for Chrysler Deal The Department of Energy is working to release $5 billion in loans to General Motors Corp. ... The funds would come from a pool of $25 billion in low-interest loans approved by Congress to help Detroit ...
Citigroup secures government lifeline - Nov. 23, 2008
money.cnn.com 11/24/2008 — NEW YORK (CNNMoney.com) -- The U.S. government on Sunday announced a massive rescue package for Citigroup - the latest move to steady the banking giant, whose shares have plunged in the past week. Citigroup shares rose 56% in premarket trading Monday. ...
The Citigroup bailout
marginalrevolution.com 11/24/2008 — Lots of opinions. Ugh. Arnold Kling says ugh too, with this good line: "...the employment benefit of infrastructure projects is more likely to go to the illegal immigrants who were laid off from housing construction and who otherwise would be...
The 'outrageous' Citigroup bailout
washingtonmonthly.com 11/24/2008 — THE 'OUTRAGEOUS' CITIGROUP BAILOUT.... Following up on Hilzoy's item from late yesterday, Paul Krugman notes this morning that a Citigroup bailout, under the circumstances, may have been worthwhile, but this bailout is outrageous: "a lousy deal for ...
All of your toxic assets are belong to us
meganmcardle.theatlantic.com 11/24/2008 — The US government agrees to bail out Citibank . The federal government agreed Sunday night to rescue Citigroup
Inc. by helping to absorb potentially hundreds of billions of dollars
in losses on toxic assets on its balance sheet and injecting fresh ...
FDIC Tries To Break Lending Logjam With $1.4 Trillion Guarantee
huffingtonpost.com 11/26/2008 — WASHINGTON — The FDIC will guarantee up to $1.4 trillion in U.S. banks' debt for more than three years as part of the government's financial rescue plan.
The directors of the Federal Deposit Insurance Corp. voted Friday to approve the plan, ...
U.S. Offers Citigroup Expansive Safety Net —
Wash Post Federal Page 11/24/2008
The government said last night that it will provide a multibillion-dollar backstop for Citigroup, revamping emergency efforts yet again to head off the failure of a company more deeply intertwined with the financial system than nearly any other.
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