As you may remember, back in 2008 Citigroup got a $45 billion government bailout in two installments. Well, the government just announced it will...
As you may remember, back in 2008 Citigroup got a $45 billion government bailout in two installments. Well, the government just announced it will start selling off its 27 percent stake in Citigroup and guess what? It turned out to be a pretty good investment.Of that $45 billion, $20 billion was paid back by Citigroup to the Treasury and $25 billion was converted to common stock. That stock is now worth around $33 billion, netting the government an expected $8 billion profit.