TITLE

Are Agencies Setting Up a Citi Sequel?

AUTHOR(S)
Adler, Joe; Hopkins, Cheyenne; Dobbs, Kevin; Kaper, Stacy
PUB. DATE
January 2009
SOURCE
American Banker;1/16/2009, Vol. 174 Issue 11, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article examines U.S. government policy towards the banks Citigroup Inc. and Bank of America. It is reported that regulatory agencies are pressuring Citigroup to divest itself of some operations in return for the $45 billion it has received in bailout funds since October, 2008. At the same time, the government has been approached by Bank of America for more bailout funds. Bank of America was encouraged by regulators to acquire Merrill Lynch, a deal that has created large losses.
ACCESSION #
36461535

 

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