Finance Globe

U.S. financial and economic topics from several finance writers.

Taxpayers Rescue Citigroup

Citigroup has become the next major institution troubled by bad mortgage-related investments to receive a taxpayer bailout.The New York-based mega-bank is yet another financial giant to be considered "too big to fail"; the company has its hand in so many deals around the world that its failure would be catastrophic to the global economy, according to experts.A joint announcement was made on Sunday by the U.S. Department of the Treasury, the Federal Reserve, and the Federal...
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