Desperate not to get fleeced when it sells its stake to private investors the government has made an exception and allowed Citigroup to retain an enormous tax break on losses it has incurred in prior years.
Since the Obama administration has publicly stated that taxpayers are likely to profit from the sale of the Citigroup shares it is doing everything in its power to shore up the financial supermarket's languid stock.
So now, right after it announced it would pay back a little under half of the TARP money (20 billion) Citi gets another boost from the federal dole, this time on the tax side of the books.
Since the Obama administration has publicly stated that taxpayers are likely to profit from the sale of the Citigroup shares it is doing everything in its power to shore up the financial supermarket's languid stock.
So now, right after it announced it would pay back a little under half of the TARP money (20 billion) Citi gets another boost from the federal dole, this time on the tax side of the books.
No comments:
Post a Comment