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Posted To: Pipeline Press
The U.S. Treasury will be selling its remaining shares in Citigroup , not only exiting ownership but making a profit on its investment. It found buyers for 2.4 billion shares at $4.35 a share for $10.5 billion of profit. Can they please manage my retirement account? CitiMortgage was the #5 residential lender for the first half of 2010. The Treasury had already announced $42.8bn in proceeds from the sale of 4.4bn shares to the end of October, including dividends, the repayment of preferred shares and interest. At this point the biggest private stakes left on the Treasury's ledger are in General Motors and AIG...although Fannie & Freddie's futures still have to be figured out too. Speaking of large banks, Bank of America (#2 residential lender during the first half of 2010) remains committed...(
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