Global Financial Crisis. The U.S. government intervenes to help CitiGroup, a bank in financial difficulty. This intervention differs from previous ones in that it does not involve placing the group under full conservatorship (like Fannie Mae and Freddie Mac), nationalizing it (like AIG), or selling it to another group (like Bear Stearns). US authorities will “invest” $20 billion in Citi preferred shares as part of the $700 billion rescue package allocated to the banking sector, adding to the $25 billion already granted to the bank under this program.
