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Citigroup faces new bailout

Posted Jul 16th 2009 10:40AM by Connie Madon (RSS feed)
Filed under: Citigroup Inc. (C), Financial Crisis

Why is Citigroup Inc (NYSE: C) under pressure from regulators to sign a secret agreement letting the government take control of 34% of the company? The reason is that Citigroup is losing money.

Regulators from the FDIC are demanding that Citigroup strengthen its board and governance, improve asset quality, better manage expenses and provide more information to regulators about its capital and liquidity. They did do a similar deal with another regulator last year.

Continue reading Citigroup faces new bailout

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