Citigroup Bailout Could Net $8B for U.S. This Year

Citigroup Bailout Could Net $8B for U.S. This Year

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dollar-sign-morguefile.jpgThe Obama administration is poised to sell the nation’s stake in Citigroup, netting about $8 billion in profit.

The $25 billion in shares purchased through the TARP fund bailout of Citigroup has grown to $33B, potentially netting the US government a huge return on its investment.

The windfall expected from the stock sale would amount to a validation of the rescue plan adopted by government officials during the height of the financial panic, when the banking system neared the brink of collapse.

(READ the UPI story at Good News Economist)

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