November 21, 2008

Pitibank

Posted by Lew Rockwell on November 21, 2008 08:27 PM | Post a civil, substantive, and intelligent comment

Nov. 21 (Bloomberg) — Citigroup Inc. will probably get rescued by the U.S. government after a crisis in confidence erased half its stock-market value in three days, investors and analysts said.

Citigroup has more than $2 trillion of assets, dwarfing companies such as American International Group Inc. that got U.S. support this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.

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