The Govt is selling Cititbank

[spinn]

And will claim an $8 billion profit. Does anyone know what they paid for the shares? And how will this affect the price?

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032604938.html

 

[cstfx]

Quote from spinn:

And will claim an $8 billion profit. Does anyone know what they paid for the shares? And how will this affect the price?

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032604938.html

"During the height of the financial crisis in October and November of 2008, Citigroup got more than $45 billion in federal aid in exchange for preferred shares. The government later restructured that package. Officials converted $20 billion into a loan, and the remaining $25 billion was converted in September into common stock at the price of $3.25 a share. "

It's in the article down past the headline.

 

[spinn]

I never said I could read. So now the govt will blast an $8 billion profit all over the media after pay $25 billion for it

Plus a $20 billion loan.