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Forbes: Citi On Fire

First Posted: 02/13/09 05:12 AM ET Updated: 05/25/11 02:00 PM ET



Anxiety about the fate of Citigroup is growing.

Investors fear the company may need more assistance from the federal government to stay afloat, even after regulators organized a $20 billion bailout in November, including a guarantee of $300 billion in loans on Citi's books. That came in addition to the $25 billion in funds Citi received from the Treasury's Troubled Asset Relief Program in October.

The bank faces fourth-quarter losses in the neighborhood of $4 billion to $8 billion and another round of write-downs and loan loss reserves. Citi is negotiating with Morgan Stanley (nyse: MS - news - people ) to sell 51% or more of Smith Barney, which could bring in $2 billion to $3 billion in cash.

Read the whole story: Forbes


Filed by Danny Shea  |