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Citigroup to Repay $20 Billion

“Citigroup said Monday that it had reached an agreement to wean itself from the government bailout by the end of 2010, beginning with the repayment of $20 billion in federal aid.

“The deal is the latest sign that both banks and the government are eager to end an extraordinary period of federal support for the financial industry. It would leave Wells Fargo alone among major banks in still holding federal aid.” (Monday, Washington Post)

I’m not so sure “eager” is the right adjective.

FEE Timely Classic:
The Financial Bailouts:’See the Needle and the Damage Done‘” by Lawrence H White

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