News reports all over claim that the government has apparently approved a $20,000,000,000,000 (20Billion$) to keep Citigroup’s head above water. I’m assuming news like this should raise the price of Citigroup’s stock? Let’s see how investors react in about 15 minutes or so.
Other information regarding this situation:
Everyone is saying if the US Government were to NOT help Citigroup with their current situation, it would be absolute chaos.
“Analysts said a Citigroup failure would have seized up still fragile lending markets and caused untold losses among institutions holding debt and financial products backed by the company.”
Apparently the $20 BILLION is coming from the $700 Billion bailout package. “The capital infusion follows an earlier one — of $25 billion — in Citigroup in which the government also received an ownership stake.”
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