A Rescue for Citigroup
cityfile · 11/24/08 06:23AM
♦ Following a weekend of non-stop negotiations, a deal is now in place to stabilize Citigroup: The bank will get a $20 billion cash injection from the Treasury Department and the government will guarantee $306 billion worth of toxic assets. [Bloomberg, NYT, WSJ]
♦ The next group in line for a bailout? Home builders, who are now lobbying Congress for a $250 billion stimulus package. [WSJ]
♦ The U.S. economy may need $300 billion and $600 billion more to survive the crisis, says George Soros. [DB]