Government Bails out Citi again; bank’s stock share price slides 46 percent. Treasury hands Citi $45 billion in trade for preferred shares and warrants in the company. Treasury will replace a majority of the bank’s board, but CEO Vikram Pandit and Chairman Richard Parsons will keep their positions. Number of problem banks shot up in the fourth quarter to 252 — up from 171 in the third quarter of 2008. Total assets of the banks on the list increased to $159 billion during the last quarter.”]
Source: https://www.cuinfosecurity.com/government-bails-out-citi-again-a-1243