US to begin citigroup sale
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US to begin citigroup sale
So we all spent 45 billion bailing out citigroup. We bought 25 billion worth of shares, and loaned them 20 billion. They repaid the loan in december, and based on the current share price, the shares will be sold for approximately 28 billion.
I was extremely skeptical that we would ever see any of that money again, and personally I'm still not convince we will, but here we are, the loan was repaid and our shares have made an 8 billion dollar (as yet unrealized) gain. Is anyone else surprised?
I was extremely skeptical that we would ever see any of that money again, and personally I'm still not convince we will, but here we are, the loan was repaid and our shares have made an 8 billion dollar (as yet unrealized) gain. Is anyone else surprised?
Pez- Jedi Padawan
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Number of posts : 1979
Location : Ft Wayne
Re: US to begin citigroup sale
Pez wrote:So we all spent 45 billion bailing out citigroup. We bought 25 billion worth of shares, and loaned them 20 billion. They repaid the loan in december, and based on the current share price, the shares will be sold for approximately 28 billion.
I was extremely skeptical that we would ever see any of that money again, and personally I'm still not convince we will, but here we are, the loan was repaid and our shares have made an 8 billion dollar (as yet unrealized) gain. Is anyone else surprised?
I thought we did, but not according to this article.
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032604938_pf.htmlThe Obama administration is making final preparations to sell its stake in the New York bank,...
LTRT- Jedi Master
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Number of posts : 3456
Re: US to begin citigroup sale
Wow... I'm not sure I've ever seen weaker sh**... Where's that head scratching smiley... ah...
Pez- Jedi Padawan
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Number of posts : 1979
Location : Ft Wayne
Re: US to begin citigroup sale
Here is hoping they put the money loaned and profits from the sale back to the treasury to pay down the debt vs using it for some other stupid plan.
Re: US to begin citigroup sale
\Scooby01_98 wrote:Here is hoping they put the money loaned and profits from the sale back to the treasury to pay down the debt vs using it for some other stupid plan.
Agree... take it off the TARP bottom line...
Pez- Jedi Padawan
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Number of posts : 1979
Location : Ft Wayne
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