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Citi Deal Inspires No Confidence
The government’s latest attempt to prop up Citi fails to ease worries that a full-scale takeover is on the way for it and other banks. NEW YORK (Fortune) — If investors have regained confidence in the big U.S. banks, they have a funny way of showing it. Shares of most big banks tumbled Friday morning [...]
Fed’s Step Deeper Into Citi Bailout
Shift of preferred shares to common stock increases embattled bank’s capital base. Stock down by nearly a third in volatile trading. NEW YORK (CNNMoney.com) — The U.S. government waded deeper into the bailout of one of the nation’s largest banks Friday when it announced a deal that will give it control over as much as [...]