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Stock of the Day
The Banking Sector's Citigroup (C) was InvestorGuide.com's Stock of the Day on 1/19/2010.
Citigroup Says Goodbye to Another $7.6B
Fourth-quarter earnings are starting to pour in and some of the results are not painting a pretty picture. At one time, some of the major banks in the United States were standing at Uncle Sam's doorstep asking for a handout. Flash forward a year later and most of them were more than anxious to repay the funds. This came as no surprise because most of these banks wanted to get the government off their backs as soon as possible. Citigroup, one of the biggest recipients of TARP funds, posted a $7.6 billion quarterly loss on costs related to TARP repayment and high loan losses. Did Citigroup make the right decision by repaying the funds so soon? How has the company changed to prevent it from having to ask for another handout?Read more
Click here to see the complete Stock of the Day archives!
Citigroup Says Goodbye to Another $7.6B
Fourth-quarter earnings are starting to pour in and some of the results are not painting a pretty picture. At one time, some of the major banks in the United States were standing at Uncle Sam's doorstep asking for a handout. Flash forward a year later and most of them were more than anxious to repay the funds. This came as no surprise because most of these banks wanted to get the government off their backs as soon as possible. Citigroup, one of the biggest recipients of TARP funds, posted a $7.6 billion quarterly loss on costs related to TARP repayment and high loan losses. Did Citigroup make the right decision by repaying the funds so soon? How has the company changed to prevent it from having to ask for another handout?Read more
Click here to see the complete Stock of the Day archives!
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On This Date
March 22, 1765:
The Stamp Act is passed. This is the first direct British tax on the colonists.
The Stamp Act is passed. This is the first direct British tax on the colonists.
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