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Aristotle
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Joined: 05 Dec 2007
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Treasury & Citigroup Done Deal
PostPosted: Fri Feb 27, 2009 5:38 am Reply with quoteBack to top

Citigroup's new Chairman, Richard Parsons, an Obama economic advisor during the election campaign, has successffully led Citigroup in obtaining more concessions from the Treasury in order to have the Treasury's preferred shares converted to common shares, as a means of propping up Citigroup's capital base.

The New York Times has more precise deal term details than reported earlier today by the Wall Street Journal. See:

http://www.nytimes.com/2009/02.....al.html?hp

Wall Street Journal's earlier article:

http://online.wsj.com/article/.....od=testMod

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