From NEWSMAX:
The government’s $45 billion bailout of Citigroup met the goal of restoring the market’s confidence in America’s third-largest bank in the wake of the financial crisis and limited taxpayers’ risk, a new watchdog report says.
The report was issued Thursday by the office of Neil Barofsky, the special inspector general for the $700 billion bailout of the financial industry and automakers. It found, however, that the government’s decision to aid Citigroup in the fall of 2008 wasn’t made coherently and seemed to be based on “gut instinct.”
Also, the report says that by bailing out Citigroup, the government encouraged high-risk behavior by signaling that big financial institutions would be protected from failing…
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