FW: Citigroup Was On The Verge Of Failure, New Report Finds; Rescue Was Based On 'Gut Instinct'

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From: HuffPost Business Brief [mailto:dailybrief@huffingtonpost.com]
Sent: Thursday, January 13, 2011 4:45 PM
To: ncallahan911@gmail.com
Subject: Citigroup Was On The Verge Of Failure, New Report Finds; Rescue Was Based On 'Gut Instinct'


<http://www.huffingtonpost.com/business?utm_campaign=011311&utm_medium=email&utm_source=Alert-business&utm_content=Logo>


<http://www.huffingtonpost.com/2011/01/13/citigroup-was-on-the-verg_n_808721.html?utm_campaign=011311&utm_medium=email&utm_source=Alert-business&utm_content=Title> Citigroup Was On The Verge Of Failure, New Report Finds; Rescue Was Based On 'Gut Instinct'


January 13, 2011

<http://www.huffingtonpost.com/2011/01/13/citigroup-was-on-the-verg_n_808721.html?utm_campaign=011311&utm_medium=email&utm_source=Alert-business&utm_content=Photo>

Citigroup, the nation's third-largest bank by assets, was on the verge of being closed by regulators the week of Nov. 24, 2008 as depositors rapidly withdrew money and the bank's counterparties declined to provide it credit, according to a government report released Thursday.

The new findings shed light on the degree to which Citigroup, the financial services behemoth with a long history of finding itself in trouble and receiving government support, was actually in danger of failing during the fall of 2008. Until now, few were aware that Citi was perilously close to being shut down.

<http://www.huffingtonpost.com/2011/01/13/citigroup-was-on-the-verg_n_808721.html?utm_campaign=011311&utm_medium=email&utm_source=Alert-business&utm_content=FullStory>

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