Extraordinary Financial Assistance Provided to Citigroup

SIGTARP just came out with a report on the extraordinary assistance provided to Citigroup during the crisis, the $306B ‘ringfence’ by the Fed/FDIC/Treasury of Citigroup assets. This report was requested by Rep. Alan Grayson in June, 2009. I’m still going through it. What is striking is just how fragile Citigroup really was/is. The $500B in foreign deposits that were not explicitly guaranteed seems significant to me, though I’m quite confused as to its implications.

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SIGTARP Report on Citigroup

See also:
Citigroup Was On The Verge Of Failure, New Report Finds; Rescue Was Based On ‘Gut Instinct’

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