The Black Informant | African American Commentary, News and Community Building

Bush~

via abcnews.com (9/23/08)

The architects of the Bush administration’s massive $700 billion bailout for financial firms went to Capitol Hill today to urge lawmakers to act quickly and pass the bill “cleanly” or risk a recession.

Obama~

via huffingtonpost.com

President-elect Barack Obama urged congressional leaders Saturday to move quickly on an economic recovery plan, even as some Republicans are saying they want more time to review the details.

What the bailout has done for Citi

Citigroup shares closed down $1.15, or 17 percent, to $5.60 on the New York Stock Exchange, bringing the company’s market value down to $30.5 billion. The shares hit their lowest level since November 24, a day after the company received a $20 billion capital infusion from the U.S. government. (more…)