The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: saveslivesbyday who wrote (186912)	2/27/2009 9:25:11 AM
From: DebtBomb	Read Replies (2) of 306849

Citi CEO says latest deal should end nationalization fear By Greg Morcroft Last update: 9:12 a.m. EST Feb. 27, 2009 NEW YORK (MarketWatch) -- Citigroup Inc (CCitigroup Inc C) Chief Executive Officer Vikram Pandit said Friday that the government's plan to convert some of its Citi preferred share stake into common should end fears of the bank being nationalized. "Of course, the government holds a significant amount of common stock investment in us, but our commitment we have had to every shareholder, which is to provide an exceptional return as we get through this cycle, remains unchanged. And in many ways for those people who have a concern about nationalization, this announcement should put those concerns to rest," Pandit said. The government will own up to 36% of Citi's outstanding common shares after the announced conversion, the firm said Friday. marketwatch.com

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