After a grim week in the markets last week looks like this evening’s news on a fed injection into Citigroup is lifting futures, if only temporarily. Problem with steroids is that when they wear off, the user shrinks.
Feb. 23 (Bloomberg) — Citigroup Inc., the recipient of $45 billion in U.S. government aid, is in talks with federal officials that may increase state ownership of the bank, the Wall Street Journal said.
The government may end up holding as much as 40 percent of Citigroup’s common stock, the newspaper said, citing people familiar with the situation it didn’t identify. [More]
U.S. Eyes Large Stake in Citi
David Enrich & Monica Langley, The Wall Street Journal, February 23, 2009