Friday, November 21, 2008

Do We Get the $25Bn Back?

OK. So Paulson gave Citigroup $25Bn.

Next chapter:

Executives at Citigroup ... began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright ...Citigroup's board of directors is scheduled to have a formal meeting Friday to discuss the options ...

In addition to pondering a move to sell the entire company to another bank, executives have started exploring the possibility of selling off parts of the firm, including the Smith Barney retail brokerage, the global credit-card division and the transaction-services unit, which is one of Citigroup's most lucrative and fast-growing businesses, the people said.

What happens to the $25Bn?

Another landmark institution gets swallowed by the porcelain god...

HT: Calculated Risk

1 comment:

St. Jimbob of the Apokalypse said...

SO, I wonder who I'll be mailing the mortgage checks to NEXT year?