Treasury Offloads Citi Stock
Uncle Sam is getting out of Citigroup. Hooray.
But we’ve still got that dodgy insurance company and automobile maker on our national balance sheet. And Fannie and Freddie.
We turned a little profit on our Citi stake, meaning that the nominal cost of TARP is now down to about $25 billion.
For those of you keeping score at home, that means that the foreclosure-prevention stuff passed on the coattails of the bank bailouts will end up costing at least three times what the bank bailouts themselves cost.