Citigroup has disclosed where $45 billion that the Treasury department paid for it is to be used. Continue reading Citibank Mortgage TARP Money

I just read this report from the Associated Press that the US Government is about to close a deal that will increase it’s onwership in the beleaguered owners of Citimortgage, Citigroup. This will result in another large cash infusion in the bank while at the same time increasing government’s control on that financial institution. It will then demand changes on the board of directors, and other changes it has not yet disclosed.

Continue reading Government to Boost Ownership in Citigroup