U.S. Approves Plan to Help Citigroup Weather LossesQuicklink submitted by Sheila Samples Permalink
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|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. The complex plan calls for the government to back about $306 billion in loans and securities and directly invest about $20 billion in the company.|
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