U.S. Investment in Citigroup Will Net $8 Billion In Profit

by Ben Hoffman

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources. At today’s prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.

Source

Citigroup shouldn’t have gotten bailed out until after it filed for bankruptcy, but at least there’s a little positive news from this mess.

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2 Comments to “U.S. Investment in Citigroup Will Net $8 Billion In Profit”

  1. The move surprises me, although the timing doesn’t. Does it forgive them for the way they handled the bailout? No, but the move here certainly deserves fair credit.

    Curious, though, what are we NOT being told about this? i.e., is this a clever misdirection for something coming our way? Again, the timing…

  2. How is the government doing with their investment in GM and Chrysler ? With the UAW watching over that money, I will sleep soundly at night .

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