It's kind of funny.
Just a quick note: Bank of America announced yesterday it had repaid the federal government the $45 billion in federal funds it received under the TARP program. The company sold stock to create the liquidity. From outgoing Ken Lewis, "We owe taxpayers our thanks."
The move will most definitely help the stalled BofA CEO search.
Politico reported this morning that Citi also intends to announce today it will repay the federal government. A similar equity sell is anticipated to repay the $20 billion in federal funds the company received.
Thursday, December 10, 2009
Feinberg rulings expected Friday: Bank of America paid-off money yesterday, Citi looking to pay-off today
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