Citigroup bailout
U.S. Profit from Citigroup Bailout: $12 Billion
The Citigroup bailout is officially over: The U.S. Treasury has sold the last of its shares of the bank. Overall, the U.S. government netted $12 billion in profit from the $45 billion bailout.
Treasury Sells More Citi Shares
The U.S. Department of the Treasury announced Thursday that it has sold all of the trust preferred Citigroup shares it held for a net profit to the taxpayer of $2.246 billion. In addition, Treasury also announced it sold 1.5 billion shares of Citigroup common stock, according to a plan announced in July, lowering its stake in the bailed out bank from 18% to 12.4%.
Treasury to Sell 1.5 Billion More Shares of Citigroup
The U.S. Treasury Department announced that it's planning to sell another 1.5 billion shares of Citigroup common stock, part of its effort to recoup some of $700 billion it invested in bailing out the financial system.