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<p><font size=3 color="#ff6600" face="Times New Roman"><span style='font-size:
12.0pt;color:#FF6600'>Nov. 24 (Bloomberg) -- <a
href="http://www.bloomberg.com/apps/quote?ticker=C%3AUS"><font color="#ff6600"><span
style='color:#FF6600'>Citigroup Inc.</span></font></a>, facing the threat of a breakup
or sale, </span></font><font size=5 color="#003366"><span style='font-size:
16.0pt;color:#003366'>received $306 billion of <st1:country-region w:st="on"><st1:place
w:st="on">U.S.</st1:place></st1:country-region> government</span></font><font
color="#ff6600"><span style='color:#FF6600'> guarantees for troubled mortgages
and toxic assets to stabilize the bank after its stock fell 60 percent last
week. <o:p></o:p></span></font></p>
<p><font size=3 color="#ff6600" face="Times New Roman"><span style='font-size:
12.0pt;color:#FF6600'>Citigroup also will get a $20 billion cash injection from
the Treasury Department, adding to the $25 billion the company received last
month under the Troubled Asset Relief Program. In return for the cash and
guarantees, the government will get $27 billion of preferred shares paying an 8
percent dividend. Citigroup rose 53 percent to $5.75 at 8:37 a.m. in <st1:State
w:st="on"><st1:place w:st="on">New York</st1:place></st1:State> trading today. <o:p></o:p></span></font></p>
<p><font size=3 color="#ff6600" face="Times New Roman"><span style='font-size:
12.0pt;color:#FF6600'>Under the agreement, Citigroup and regulators will back
up to </span></font><font size=5 color=green><span style='font-size:16.0pt;
color:green'>$306 billion of largely residential and commercial real estate
loans and certain other assets</span></font><font color="#ff6600"><span
style='color:#FF6600'>, which will remain on the bank’s balance sheet. Citigroup
will shoulder losses on the first $29 billion of that portfolio. <o:p></o:p></span></font></p>
<p><font size=3 color="#ff6600" face="Times New Roman"><span style='font-size:
12.0pt;color:#FF6600'>Any remaining losses will be </span></font><b
style='mso-bidi-font-weight:normal'><font color=green><span style='color:green;
font-weight:bold;mso-bidi-font-weight:normal'>split between Citigroup and the
government</span></font></b><font color="#ff6600"><span style='color:#FF6600'>,
<span style='mso-spacerun:yes'> </span><span class=GramE>( <b
style='mso-bidi-font-weight:normal'><font color=red><span style='color:red;
font-weight:bold;mso-bidi-font-weight:normal'>TAXPAYERS</span></font></b></span></span></font><b
style='mso-bidi-font-weight:normal'><font color=red><span style='color:red;
font-weight:bold;mso-bidi-font-weight:normal'><span
style='mso-spacerun:yes'> </span>THAT MEANS YOU</span></font></b><font
color="#ff6600"><span style='color:#FF6600'>) <span
style='mso-spacerun:yes'> </span>with the bank absorbing 10 percent
and the government (YOU) <span style='mso-spacerun:yes'> </span></span></font><b
style='mso-bidi-font-weight:normal'><font color=olive><span style='color:olive;
font-weight:bold;mso-bidi-font-weight:normal'>absorbing 90 percent.</span></font></b><font
color="#ff6600"><span style='color:#FF6600'> The Treasury Department will use
its bailout fund to assume up to $5 billion of losses. If necessary, the <a
href="http://topics.nytimes.com/top/reference/timestopics/organizations/f/federal_deposit_insurance_corp/index.html?inline=nyt-org"
title="More articles about Federal Deposit Insurance Corp (FDIC)"><font
color="#ff6600"><span style='color:#FF6600'>Federal Deposit Insurance
Corporation</span></font></a> will bear the next $10 billion of losses. Beyond
that, the <a
href="http://topics.nytimes.com/top/reference/timestopics/organizations/f/federal_reserve_system/index.html?inline=nyt-org"
title="More articles about the Federal Reserve System."><font color="#ff6600"><span
style='color:#FF6600'>Federal Reserve</span></font></a> will guarantee any
additional losses.<o:p></o:p></span></font></p>
<p><font size=3 color="#ff6600" face="Times New Roman"><span style='font-size:
12.0pt;color:#FF6600'>In exchange, Citigroup will issue $7 billion of preferred
stock to government regulators. In addition, the government is buying $20
billion of preferred stock in Citigroup. The preferred shares will pay an 8
percent dividend and will slightly erode the value of shares held by investors.<o:p></o:p></span></font></p>
<p class=MsoNormal><b style='mso-bidi-font-weight:normal'><i style='mso-bidi-font-style:
normal'><u><font size=2 face=Arial><span style='font-size:10.0pt;font-family:
Arial;font-weight:bold;mso-bidi-font-weight:normal;font-style:italic;
mso-bidi-font-style:normal'>Marc’s Notes:</span></font></u></i></b><font
size=2 face=Arial><span style='font-size:10.0pt;font-family:Arial'><br>
Ta <span class=SpellE>Da</span>!<span style='mso-spacerun:yes'> </span>And
there he is! <span style='mso-spacerun:yes'> </span>Another cool 1/3
of a <span class=GramE>TRILLION<span style='mso-spacerun:yes'> </span>out</span>
the door. <span class=SpellE>Citi</span> gets bailout to the tune of …. Well<span
style='mso-spacerun:yes'> </span>too much for me to count.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>And the market rallies on this news. What message are we
sending by buying stocks on this news? That we approve of the bailouts?<span
style='mso-spacerun:yes'> </span>How turned upside down are we?<br>
The public has lost touch with these trillions out the door and the FEDS know
it. We sit, complacent, waiting for our next crumb of a stimulus check of
600.00 or so, while our currency, indeed our nation is thrown under the bus by
these clowns. Our forefather’s freedom is trampled under what Thomas
Jefferson called the pariah of banking.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Take a look at this article:<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=blue face="Times New Roman"><span
style='font-size:12.0pt;color:blue'>Nov. 24 (Bloomberg) -- The U.S. government
is prepared to lend more than $</span></font><b style='mso-bidi-font-weight:
normal'><font size=5 color="#ff6600"><span style='font-size:20.0pt;color:#FF6600;
font-weight:bold;mso-bidi-font-weight:normal'>7.4 trillion on behalf of
American taxpayers</span></font></b><font color=blue><span style='color:blue'>,
or half the value of everything produced in the nation last year, to rescue the
financial system since the credit markets seized up 15 months ago.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=blue face="Times New Roman"><span
style='font-size:12.0pt;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 color=blue face="Times New Roman"><span
style='font-size:12.0pt;color:blue'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>Remember when I said the cost would be closer to 5 trillion or more? <span
style='mso-spacerun:yes'> </span>They said 2oo billion? <span class=GramE>(
are</span> you getting your<span style='mso-spacerun:yes'> </span>“<span
class=SpellE>illions</span>” mixed up?) <span
style='mso-spacerun:yes'> </span>So am I!<o:p></o:p></span></font></p>
<p class=MsoNormal><span class=GramE><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Outrageous.</span></font></span><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><span class=GramE><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>That’s all for now.</span></font></span> I have
to go throw up now. I just wanted to confirm that CITIBANK effectively went
under with this announcement just like we thought!<o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>Oh, and one other thing….<span
style='mso-spacerun:yes'> </span><span class=SpellE><span
class=GramE>Shhh</span></span><span class=GramE> !</span><span
style='mso-spacerun:yes'> </span><span class=GramE>don’t</span> tell
anybody…. Come a little closer…………<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal align=center style='text-align:center'><b style='mso-bidi-font-weight:
normal'><font size=7 color="#ff6600" face="Times New Roman"><span
style='font-size:36.0pt;color:#FF6600;font-weight:bold;mso-bidi-font-weight:
normal'>“IT WONT <span class=GramE>BE</span> ENOUGH!”<o:p></o:p></span></font></b></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>All the best,<o:p></o:p></span></font></p>
<p class=MsoNormal><span class=GramE><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>marc</span></font></span><font size=2 face=Arial><span
style='font-size:10.0pt;font-family:Arial'><o:p></o:p></span></font></p>
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