Citigroup posts $8.29B loss, separates traditional banking business from riskier ventures. Citigroup says it is splitting up into two businesses as it sustains its fifth straight quarterly loss. One business, Citicorp, will do traditional banking, and the other, Citi Holdings, will hold the company’s riskier assets.
Citigroup posts loss, splits up the bank. Citi also spent [...]
Bush says Citigroup deal needed to protect system. Bush says Citigroup rescue may not be the last one – President Bush argued Monday that the government’s dramatic rescue of Citigroup was necessary…
WASHINGTON – President Bush argued Monday that the government’s dramatic rescue of Citigroup was necessary to “safeguard the financial system” and help the economy [...]
Citigroup rescue includes $20B cash injection, guarantee on billions in assets. Citigroup rescue: U.S. Government plans great Citigroup rescue effort. News from WASHINGTON (AP) — Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the [...]