US Government Agrees to Citigroup Bailout
In an article by David Enrich, Carrick Mollenkamp, Matthias Rieker and Damian Paletta, the Wall St Journal is reporting late Sunday evening that the US government has agreed to "take unprecedented steps to stabilize Citigroup Inc. by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books."
See also the following stories: Washington Post - U.S. Putting Together Rescue for Citigroup, New York Times - U.S. Plan to Aid Citigroup Said to Be Near Approval.
Surely the headline should be "US Government agrees to another Citibank bailout"?
Posted by: Dave Birch | November 24, 2008 at 01:53 AM