UPDATE: Government Unveils Citigroup Rescue Plan

The government unveiled a plan Sunday to rescue troubled Citigroup, including taking a $20 billion stake in the firm whose stock has been hammered on worries about its financial health.

In addition, the government will guarantee as much as $306 billion of risky loans and securities backed by commercial and residential mortgages.

The announcement was made by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp.

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  • by Dwayne Location: Greenville on Nov 24, 2008 at 07:09 AM
    The same group that takes you quickly to 30% interest rate under universal default clause. Let them crash if they can't make it.
  • by Anonymous on Nov 24, 2008 at 02:55 AM
  • by ripped off Location: jacksonviile on Nov 23, 2008 at 08:45 PM
    This company needs to go under they help noone if it was us noone would bail us out

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