The Obama USA Treasury citigroup bailout deal
The Obama Bailout for Citigroup
The Obama Citigroup deal originally came about in 2009
After the crash of Lehman Brothers started to compound the level of over gearing debt on the economy, Citigroup borrowed from the tax payer, through the government, at a cost
At the time the deal caused massive controversy. President Obama proposed to the members of congress that this would be part of the $1 trillion+ government stimulus package that was suddenly required to stop a global money market melt down.
What Caused the meltdown?
Have a read at these hubs:
Sell the Citigroup shares now?See results without voting
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Cash in Citigroup For US Taxpayers
As Obama was playing basketball at a local basketball court, he slammed a dunk in, and then shouted over to his friend Joey Snowball from the morgan stanley investment group,
"Yo snowball! Obama shouted "when's a good time to cash in debt?"
"how bout now?"
"Yo, thats nice, high five!"
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