The U.S. government on Sunday entered into an agreement with Citigroup to bolster the company with $20 billion in capital from the TARP pool. The treasury has also announced that it, along with FDIC, will provide protection against an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real [...]
November 24th, 2008 | rp | Comments | ContinuedAll Posts Tagged With: "Fianancial Bailout"
Update-4 : House passes bailout plan, Bush signs the bill
Update:
10/03/08 - 4
The House has ok’d the revised bailout bill with a 263-171 vote. President Bush acted quickly and signed the bill providing his approval. The bill will provide money for banks to keep their payroll expenses going and allow them to lend money to each other. What it won’t fix is easy credit for [...]
It’s Wachovia now, Citi acquires banking assets
Wachovia is the next big bank to fall and it’s banking assets have been acquired by Citi. Under the terms of the agreement, Citi will pay Wachovia approximately $2.16 billion in stock and assume Wachovia’s senior and subordinated debt, totaling approximately $53 billion. This will create a U.S. retail bank with 9.8% U.S. market deposit [...]
September 29th, 2008 | rp | Comments | ContinuedWhat does McCain think of Presidency?
If you are not outraged by John McCain’s latest campaign adventure, you should be.
McCain announced Wednesday that he is suspending his campaign to return to Washington and focus on the crisis on Wall Street. Sounds noble? It does, until you take this news in context and with some questions:
Obama leads John McCain by nine points [...]
September 25th, 2008 | supa | Comments | Continued
