U.S. Set To Make $8 Billion From Bailing Out Citigroup

us set to make 8 billion from bailing out citigroup photo

In January the company announced a loss of $ 1.6 million 2009. But Citigroup executives said they saw his work as a stabilization, which allows the company to set aside less money in the last three months of 2009 to cover the losses it has made for the same period in 2008. By comparison, JP. Morgan Chase, has earned 11.7 billion U.S. dollars.


. Citigroup was among nine big banks, which were the first to take the rescue fund in October 2008, and all expressed their federal loans.

Officials converted to 20 million U.S. dollars a loan, and the remaining $ 25 million in the month of September has turned into ordinary shares at a price of $ 3.25 per share. . At the height of the financial crisis in October and November 2008, Citigroup has more than $ 45 million in federal aid in exchange for preferred shares.

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