US Gov't to Sell 7.7 Billion Shares of Citigroup

The US government announced that it would be selling the 7.7 billion shares of Citigroup stock it bought to bail the troubled bank out.

The story:
http://www.businessweek.com/news/2010-03-29/u-s-treasury-plans-to-sell-citigr...

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[cdltpx]

On paper they may have went up but anytime gold is gaining as it is we have a devaluation of our currency which means we are to experience inflation period. I hope the shares went up so they will publish that Obama made a great profit off the shares that Bush bought and how wonderful the president was then for buying and the Dems can say how wonderful BO was for knowing when to sell. In the end who really can guage the quality of life if you are too stupid to go to the library and read.

[TheDailyConversation]

@cdltpx True true.

[cdltpx]

Thats the way of the governent buy high sell real low.

[TheDailyConversation]

@cdltpx I think the shares actually went up. The article said the government stands to earn a profit of $7 Billion if the shares were sold today...

[cdltpx]

We have a wealth of books free internet magazines newsprint videos dvd all paid for by tax dollars. When was the last time you had to wait in a line to get into the library? Go to a movie and the prices are too high food cost above retail and there is a line to get in? I like movies but come on I can go to the park ride a bike and have more fun than watching a movie in a crowded theatre. They have lost their mind that is why so many have gone bankrupt they say $7.50cool I say netflicks in a few.

[anne48503]

It definitely was a 'false' recovery. There is no way Obama can save this sinking ship, and he don't want to.

[harker3355]

Good job, Obama! This proves the feds have no interest in "taking over private industries" as the Tea Partiers claim. The feds HAD to move in because the banks were taking down our entire economy.

[poopstreek]

No reply to my previous comment?

Come on guys...

[cdltpx]

I don't have my finger on the pulse of the movie industry when I lived In Cali I saw studios all over the place I don't see that here. Cali they would film huge big budget films complete with massive stunts explosions we don't see that here we do see some filming mostly drama nothing to hard to produce. Cali was expensive to live in groceries rent fuel everything cost more. Arizona is expensive we went there recently and groceries are way up there. Im told our prices are like Mexico?

[cdltpx]

I understand they have had filming going on in La since Tarzan movies I say a larger share is here now because they were or are constructing studios here. In Ga they have constructed studios for that Madea guy. When I lived in LACA one thing that impressed me was work ethics it is not a laid back group there they work hard and don't pull any punches. I worked my ass off when I lived in Cali. Use to pick up furniture all over SanDiago Chula Vista By the air force Base. Lot of home based business.

[waltermh111]

Louisianas been a popular film ground for decades at the least

It has a good industry for film

How little you know of the industry maybe?

Also, Californias problem is it is too mixed with its ideologies, Arnold being I think an example

Its liberal enough to become one of the most progressive states in the union, yet its too conservative to pay for the stuff

They simply ask for what they refuse to pay for. Cali has the money for the programs too, its a wealthy state, its just too conservative

[anglitoestebancito]

people needs to understand that there is not such thing as infinite growth ! we had been at peak!

[poopstreek]

I will believe that the economy is turned around when our debt is paid off, and when Obama is not borrowing 41 cents of every dollar he spends from China.

I will believe that this is not a false recovery when we start producing our own goods. Look at the trade deficit guys... Our money is going overseas, then coming back in the form of debt. The only reason the dollar is where it is now is because the countries holding our debt are waiting to bail out, with minimal losses. We are in for it...

[cdltpx]

You are right here too they are selling everything in Cali the governator is trying to sell everything he can. They are even selling a building with Ron Regans name on it and Arnold is a R. Cali is going broke bc they drove all their winners out of LA and all they were left with were the loosers. They moved to Vegas Colorado Phoenix anywhere but LA. Even the movie industry is trying to get outta LA they are filming all over Louisiana and that is a streatch if you leave perfect weather for jungle

[cheeckybutnice]

im confused! world reccesion. so who are they going to sell to. here in britain our priminister has tried 2 sell everything,

[dangerouslytalented]

Unless there is significant banking reregulation, I would not go NEAR those shares, they will only crash again.