Word: governmental
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
On Monday, Citigroup said it had worked out a deal to repay $20 billion in government bailout money and terminate a loss-sharing agreement the bank had with the government for Citi's riskiest assets. Citi CEO Vickram Pandit said the moves were signs that his company was returning to...
But analysts say Citi's rush to repay the assistance it got through the government's Troubled Asset Relief Program (TARP) will make the bank weaker, not stronger. The move will reduce Citi's capital ratios and hurt earnings; it may also accelerate a retreat of foreign investors from the...
Veteran analyst Richard Bove of Rochdale Securities, who had been recommending Citi's shares since the summer, downgraded the stock on news that it was going to repay TARP from a "buy" to a "sell" rating. "What does it do for the company? Management can increase [executive] salaries," says Bove...
Citi's deal to pay back the government was reportedly hashed out over a week's worth of marathon negotiations following Bank of America's repayment last week of $45 billion in government assistance. Citi did not want to be one of the few remaining big banks still using the...
Citi's effort to repay the government will remove some of the stigma surrounding the firm that has evolved since the start of the financial crisis. Treasury officials say Citi will no longer be considered one of the companies that have received "exceptional assistance" from the government. That means pay...