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Citigroup

Citigroup

Troubled Citigroup names new boss.

Citigroup names the head of its investment banking business, Vikrum Pandit, to be its new chief executive.
Ref. Source 7

Citigroup

Citigroup sees second giant loss

Citigroup reports a loss of $5.11bn and cuts 9,000 jobs as the credit crisis continues to take its toll.
Ref. https://news.bbc.co.uk/1/hi/business/7354266.stm

Citigroup History & Civil Business Politics

Citigroup has joined Morgan Stanley Chase

Citigroup has joined Morgan Stanley Chase, the Federal Deposit Insurance Corporation (FDIC,) and a few other large banks in initiating an aggressive program to mitigate foreclosures of single family homes. The bank said on Monday that it is putting a moratorium on both initiating new foreclosures and on completing the legal process against homeowners who are currently moving toward foreclosure.

Ref. Source 3

Citigroup

I think it is a good thing in putting a moratorium on mortgages of the single family homes. I believe this can help the current homeowner in all that is going on with winter fast approaching.

Citigroup

Citigroup

US banking giant Citigroup says it aims to cut its worldwide headcount by 50,000 - on top of 23,000 job losses it had already announced.
Ref. BBC

Citigroup

Citigroup More Cash From Government

The US government announces a rescue plan for Citigroup, including taking a $20bn stake in the banking giant whose shares have plummeted.
Ref. BBC

Citigroup

Citi Gets Nationalized; Don't Call It Nationalization:

The Government has reached a deal to buy 36% of Citigroup's common stock. The United States will now be the largest shareholder of the troubled bank (But don't call it nationalization). Citigroup announced another huge quarterly loss. Ref. Source 7

Citigroup Politics Business Civil & History

I wonder what will happen now if citicorp fails and goes under? Will the government, its largest shareholder, buy it out totally?