U.S. Approves Plan to Help Citigroup Weather Losses

U.S. Approves Plan to Help Citigroup Weather Losses

By ERIC DASH
Published: November 23, 2008

Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night.
The complex plan calls for the government to back about $306 billion in loans and securities and directly invest about $20 billion in the company. The plan, emerging after a harrowing week in the financial markets, is the government

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