Your Advisors
Don Miller
Don'S LATEST HEADLINES
-
Taxpayers Ring Up $12.3 Billion Profit on Citigroup Bailout
The U.S. Treasury on Monday will complete the sale of warrants of Citigroup Inc. (NYSE: C), allowing it to realize a $12.3 billion profit from its bailout of the banking giant.
The United States will record a net $312.2 million from the sale of its final 465.1 million warrants to purchase common shares of Citigroup, the Treasury Department said Wednesday. Last year, Treasury sold its 34% stake in Citigroup common shares.
The warrant sale is the latest step in disposing of the bank's assets after the government lent the company $45 billion in Troubled Asset Relief Program (TARP) funds during the height of the financial crisis in 2008.
- IMF Global Economic Forecast Revised Up on Emerging Market Growth & U.S. Tax Cuts
- Cocoa Prices Skyrocket As Ivory Coast Election Dispute Spawns Export Ban
- Skyrocketing Iron Ore Prices Squeeze Steelmakers' Profits
- GE China Deals to Bring in $4 Billion
- China's Yuan Policy will be the Source of Much Discussion, but Little Change During President Hu's Visit
- Core Inflation Numbers Will Allow the Fed to Stay the Course - For Now
- Housing Crisis Could Peak in 2011 as Foreclosures Rise to Record
- Mergers & Acquisitions Are Set to Accelerate in 2011 Following Their Best Start in a Decade
- China Monetary Policy in Focus as Reserves and Lending Surge