Citi secures government lifeline

http://money.cnn.com/2008/11/23/news/companies/citigroup/index.htm?postversion=2008112400

NEW YORK (CNNMoney.com) -- The U.S. federal government on Sunday announced a massive rescue package for Citigroup, saying it would guarantee more than $300 billion in company assets, while injecting an additional $20 billion in capital into the embattled bank.

 

I'd prefer to hang all those banker bastards and seize all their families personal assets.

Problem is, they crap they've left behind is bigger than the money they stole.

Let them all rot in hell

 

Now that Citigroup is off the table, who is next?

 

HIG

 

Here are the terms of the bailout.

http://online.wsj.com/public/resources/documents/citi-term-sheet-1123.pdf


Govt. back-stops 300B of Citi assets;

Govt charges $7B fee in the form of preferred securities for loan guarantee, with 8% yield;

Govt. loans Citi $20B, and receives $20B of preferred stock, again with 8% yield;

As a kicker, Govt. gets 2.7B worth of common stock warrants with a strike price of $10.61, with a 10 year shelf life.