From the Associated Press: "Government plans massive Citigroup rescue effort," by Jeannine Aversa--
Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the company.
Regulators hope the dramatic action will bolster badly shaken confidence in the once-mighty banking giant as well as the nation's financial system, a goal that so far has been elusive despite a flurry of government interventions to battle the worst global crisis since the 1930s.
Regulators hope the dramatic action will bolster badly shaken confidence in the once-mighty banking giant as well as the nation's financial system, a goal that so far has been elusive despite a flurry of government interventions to battle the worst global crisis since the 1930s.
--Posted by Alton Illinois personal injury lawyers and the Alton Illinois car accident attorneys of Schaeffer & Lamere, P.C., handling Missouri and Illinois accidents, personal injury, products liability, workers' compensation, medical malpractice, truck accidents, and all other types of injury cases.
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