Wednesday, March 14, 2012

Citigroup fails stress test

Of the 19 banks that were subjected to the stress test to judge whether they were capitalized enough to withstand another financial downturn in the economy, Citigroup was one of the 4 that did not pass muster. As a consequence the Federal Reserve will not allow Citi at this time to increase the dividend it pays to shareholders. Another blow for Uncle Vik.

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