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Citigroup Inc. Message Board

  • profit_guy profit_guy Nov 24, 2008 12:19 AM Flag

    MAJOR DILUTION, read again folks

    As part of the agreement, 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 backed by
    residential and commercial real estate and other such assets,
    which will remain on Citigroup's balance sheet. As a fee for
    this arrangement, Citigroup will issue preferred shares to the
    Treasury and FDIC.


    In addition, Treasury will invest $20 billion in Citigroup
    from the Troubled Asset Relief Program in exchange for
    preferred stock with an 8% dividend to the Treasury.

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