Citigroup under de-facto government control (2)

1 Name: Unverified Source : 2009-02-28 04:54 ID:tV+J3uz9

The US government has agreed to take a 36 percent stake in Citigroup, placing what was once the world's largest financial service group under de-facto government control.

Citigroup announced on Friday that the government will boost its investment in the group through conversion of government-held preferred shares to common equity.

The US Treasury currently holds about 45-billion-dollars worth of preferred stock it purchased through 2 capital
injections last year.

2009/02/27 21:49(JST)
(JST: UTC+9hrs.)

2 Name: Unverified Source : 2009-02-28 06:03 ID:tV+J3uz9

Soviet-type socialism went wrong. The experiment of the United States type socialism started.

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