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Citigroup

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bloomberg.com - 11/24/2008

Citigroup Gets Guarantees on $306 Billion of Assets (Update3)

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Nov. 24 (Bloomberg) -- Citigroup Inc. , facing the threat of a breakup or sale, received $306 billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank after its stock fell 60 percent last week. Citigroup also will get a $20 billion cash injection from ...

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economistsview.typepad.com - 11/24/2008

The Citigroup Bailout

— economistsview.typepad.com — It's bailout time. Let's start with Paul Kedrosky: Good Bank, Bad Bank, and F---ed Bank : Apparently... Citibank and the U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on ... (more) The Citigroup Bailout

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Comments vote downundo vote up EconLog: Library of Economics and Liberty found this 11/24/2008found this

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federalreserve.gov - 11/24/2008

FRB: Press Release--Joint statement by Treasury, Federal Reserve, and the FDIC on ...

— federalreserve.gov — Joint Statement by Treasury, Federal Reserve, and the FDIC on Citigroup Washington , DC -- The U.S.... government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth. In support of this ... (more) FRB: Press Release--Joint statement by Treasury, Federal ...

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Citigroup

Comments vote downundo vote up Calculated Risk found this 11/24/2008found this

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online.wsj.com - 11/24/2008

U.S. Agrees to Citigroup Bailout

— online.wsj.com — [Sanford Weil] Associated Press Former CEO Sanford Weill (more) U.S. Agrees to Citigroup Bailout

Citigroup

Comments vote downundo vote up Information Arbitrage found this 11/24/2008found this

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We Built This Citi
Technically Speaking, Market Analysis and Theory — Click charts to ENLARGE. ____________________________________ Asset Allocation Pivots. _________________________________________________________ With God as my witness, last night I called my sister (President of a Fortune 500 company) and my son and told them my best bet for the week. Unfortunately, I don't have enough of it to make a difference. I'll give you a hint. ____________________________________________________________ Here's a list of some items, sorted by RSI14 weekly __________________________________________________ So what's this ...

Citigroup Bailout: Not Far Enough
Information Arbitrage — After reviewing the "Term Sheet" and the write-ups in the press I am not happy. The U.S. Government didn't go far enough. I'm not convinced that we won't be exactly in the same position I was worrying about with direct cash injections and no Good Bank/Bad Bank structure. Liabilities could well exceed Citigroup's losses plus the second and third loss guarantees. The deal is exceptionally complicated, without full transparency for either the Government or the U.S. taxpayer. The fact that equity holders are getting bailed out - at least temporarily - offends me, given that the U.S. taxpayer is bearing the lion's share of the risk. This looks and feels like AIG ...

Before the bell: Stocks poised for a positive start on Citigroup rescue
BloggingStocks — Filed under: Before the bell, Market matters, Citigroup Inc. (C), Politics, Recession, Financial CrisisU.S. stock futures were higher Monday morning, indicating Wall Street could start the week on a positive note, even as it soared Friday to minimize the losses of last week. Investors were encouraged this morning after the whole weekend questions of a rescue for Citigroup culminated this morning in a $20 billion government injection as part of a rescue package that also includes $306 billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank. Investors ...

Opening Bell: 11.24.08
Dealbreaker — Citi Gets Guarantees On $306B In Assets (Bloomberg) This marks Citi as the one of the (if not the) single largest corporate recipient of federal aid in US history, with $45B ($25B first round, $20B second) in pure injections and a tiered backstop of $306B. Highlights: Pandit stays, Cuomo gets his platform for salary caps, it's the standard preferred purchase on the $20B. The big question going forward is going to be one of sustained solvency; whether you're on the side that says Pandit inherited this mess or the side that says he caused ...

Citigroup Bailout Means Large Subsidy To Citigroup
Stefan Karlsson's blog — ... bailed out by the U.S. government. The bailout comes in the form of a $20 billion capital injection combined with a guarantee that the U.S. government will cover up to $249.3 billion in losses. ...

Stocks in the news: C, BAC, TGT, CPB, HPQ, JNJ, S, RIMM
BloggingStocks — Filed under: Earnings reports, Deals, Hewlett-Packard (HPQ), Citigroup Inc. (C), Target Corp. (TGT), Johnson and Johnson (JNJ), Sprint Nextel Corp (S), Bank of America (BAC), Campbell Soup (CPB), Research in Motion (RIMM)Citigroup Inc. (NYSE: C) is getting a $20 billion government injection as part of a rescue package that also includes $306 billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank. Citi will issue $7 billion in preferred stock with an 8% dividend, but is barred from paying quarterly dividend to ...

When will Citi go back to the government for more?
BloggingStocks — Filed under: Citigroup Inc. (C), Economic data, Federal Reserve, Financial Crisis Citigroup (NYSE: C) got a bailout from the government, but is the deal big enough to save Citi? This deal sounds like an interim solution rather than a permanent one. That's because after losing $20 billion in the last year, Citi has $2 trillion in on-balance sheet assets; another $1.23 trillion in off-balance sheet assets; and $36.8 trillion in derivatives. It is likely that the losses from these financial WMDs could exceed the amount Citi got from the ...