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The US government has announced a rescue plan for the Citigroup
The US treasury department is to invest $20bn (£13.4bn) in return for preferred shares in Citigroup. The treasury and the Federal Deposit Insurance Corp will also guarantee up to $306bn (£205bn) of risky loans and securities on Citigroup's books.The plan follows a $25bn injection of public funds in the bank last month. Posted by: 3dc 2008-11-24 |
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