Bailout Follows Citibank Announcement of Mass Layoffs
Joint Statement by Treasury, Federal Reserve, and the FDIC on Citigroup, November 23, 2008: “The U.S. government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth. In support of this commitment, the U.S. government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, …