Joined: Jan 2007
Posts: 559
 
   Brazil
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 Nov 24, 2008, 10:44:41 PM | #1 |
Citigroup is getting the next round of government bailouts
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 company.
Regulators hope the dramatic action will bolster badly shaken confidence in the once-mighty banking giant as well as the nation's financial system, a goal that so far has been elusive despite a flurry of government interventions to battle the worst global crisis since the 1930s.
Wall Street investors reacted enthusiastically. The Dow Jones industrials shot up about 300 points in morning trading. Stock markets in Britain and Germany also gained ground. Citigroup shares themselves climbed 61.3 percent to $6.08 in morning trading.
http://biz.yahoo.com/ap/081124/citigroup.html
What do you think about this? Is it fair that companies who fail are rewarded with billions of dollars ? |
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