December 07, 2009
By Dimitri Kanellopoulos, BuyActive.com
NEW YORK (BuyActive) - With Citigroup's year end report quickly approaching in January, the pressure is on for them to try and repay part of the
TARP bail out funds.
Citigroup and Wells Fargo are the last of the big banks that have not yet payed back the Tarp funds since Bank of America announced last
week it would be raising the money to do so. B of A was able to surpass their goal of raising 18.8 billion when they raised 19.3 billion
in a sale of securities at $15 apiece.
Of course, for Citigroup, along with the governement's cash injection last year, came a 34% stake and all sorts of conditions
that the banks want to shake as soon as possible.
Also, after acquiring a 5% stake in Citigroup, the Kuwait Investment Authority has sold its entire share for a $1.1 billion profit.
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