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Monday, November 24, 2008

The executives keep their jobs:

Treasury, Federal Reserve, and FDIC:
... the U.S. government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, liquidity access, and capital.

... Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities ...

Citigroup will comply with enhanced executive compensation restrictions ...
WSJ:
The government is not expected to require any management changes, as that was seen as potentially being too destabilizing.
ALSO: After this, it's hard to see how Detroit misses out on a bailout.



1 comments

Yeah, but it won't get one from Bush. Obama will have to do the dirty work.

By Anonymous e. nonee moose, at 11/24/2008 9:37 AM  

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