Quote:
Originally Posted by Acting Like Godot  I could be wring, but as far as I can see, in the U.S there is only one Big Bank that hasn't repaid its bailout money (Citicorp). As far as I know, Citi never bought out any failing bank either. Let me know if you know otherwise.
If I am correct, "Occupy Wall Street" may as well become "Occupy Citicorp".
That argument is passé, Gabo. The last time I looked, U.S banks were criticized for NOT lending out money.
Seems like U.S banks are in a "damned if you do, damned if you don't" situation. If they lend, they are accused of making bad lending decisions, and if they don't lend, they are accused of not lending. |
Citibank paid off its loans in late 2010 (I was there at the time, it was rather big news :P). To be precise, the US government sold their Citi stock for a total of $12bn profit on their $45bn investment.
On the other hand the government also guaranteed about $300bn of citibank assets-I have no idea what happened to those.