U.S. wins U.S. $ 12,000 million to the rescue of Citigroup

The Treasury Department United States has sold the last package of shares held in Citigroup in exchange for their support during the financial crisis.
Have entered the public purse of $ 10,440 million (7.828 million euros) for the sale of 7% of shares still owned by the state, so the gross profit of the whole speech was about 12,000 million dollars (8.985 million euros) and the U.S. Economy.

City Group

The government injected between 2008 and 2009 to 45,000 million dollars in the state, the operation which took control over 36% of the capital stock of Citigroup. Citi paid $ 20,000 million in preferred stock and another 25,000 billion dollars were converted into common shares of the bank, which were held by the U.S. Treasury and the U.S. Economy..

U.S. Economy

"With the sale of remaining shares of Citigroup have had the opportunity to achieve substantial benefits for taxpayers and avoid future risks," said Tim Massad, representative of the Treasury and the U.S. Economy..
"With this transaction, we advance our goals of recovering funds (TARP, created in the Bush administration to save the banks), to protect the interests of taxpayers and to end government involvement in the companies," he said and the U.S. Economy.