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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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