Bailouts

Citigroup Wants to Sell Gov’t Stake

Is the taxpayers' portfolio about to slim down? Citigroup has asked its investment bankers to look into options for selling the government’s 34 percent stake in the bank, according to the Financial Times. The bank is hoping the move would raise capital, though it has yet to alert the U.S. Treasury, which has final say, to its plans. The Treasury has purchased more than seven billion shares of Citigroup stock at $3.25 a share. The share price is now at $4.25, but Timothy Geithner may hold on until he can secure a better deal for taxpayers.