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U.S. set to make $8 billion from bailing out Citi

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kanrok Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 04:11 PM
Original message
U.S. set to make $8 billion from bailing out Citi

Obama administration is preparing to sell its stake in the bank, sources say

updated 3:13 a.m. CT, Sat., March. 27, 2010

"Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources.

At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds and the transaction would be the second-largest stock sale in history."

http://www.msnbc.msn.com/id/36062775/from/RSS/

Damned socialists!
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 04:13 PM
Response to Original message
1. "That so sucks." - Republicon Homelanders for FAIL
Edited on Sat Mar-27-10 04:17 PM by SpiralHawk
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 04:31 PM
Response to Original message
2. That damned commie looser!!!1!!11!!!
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 04:35 PM
Response to Reply #2
3. Where's Joe when we need him
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demosincebirth Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 05:37 PM
Response to Original message
4. My, my...isnt' that interesting.
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shedevil69taz Donating Member (222 posts) Send PM | Profile | Ignore Sat Mar-27-10 05:43 PM
Response to Original message
5. this be a double
there was already a posting discussing this

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8032731
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notesdev Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 06:34 PM
Response to Original message
6. Who's the buyer?
Wanna bet that the buyers are other bailout banks and this is really just shuffling money around and claiming a profit?
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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 06:57 PM
Response to Reply #6
7. That would be my guess.....
nt
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