"Meredith Whitney, who in turn called out Citi as a failing model"
This morning :
U.S. Approves Plan to Help Citigroup Weather Losses - NYTimes.com:
"Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night."
"Citigroup’s shares have been hit particularly hard. A year ago they were trading at about $30; on Friday they closed at $3.77."
Oh yeah - and dividend goes from 16cents annually to 4cents
for the next 3 years
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