Thread: I-N-S-O-L-V-E-N-T: Citigroup Was In Debt To The Fed 7 Out Of

I-N-S-O-L-V-E-N-T: Citigroup Was In Debt To The Fed 7 Out Of Every 10 Days From August 2007 Through April 2010

Sunday, August 21, 2011

Bloomberg notes, in an article entitled "Wall Street Aristocracy Got $1.2T in Loans":

Citigroup was in debt to the Fed on seven out of every 10 days from August 2007 through April 2010, the most frequent U.S. borrower among the 100 biggest publicly traded firms by pre- crisis market valuation. On average, the bank had a daily balance at the Fed of almost $20 billion.

“Citibank basically was sustained by the Fed for a very long time,â€