This is shocking but not a surprise. The US Gov was going in this direction.
Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according to people familiar with the situation.
While the discussions could fall apart, the government could wind up holding as much as 40% of Citigroup’s common stock. Bank executives hope the stake will be closer to 25%, these people said.
This crisis seems to be an excuse to have total governmnet control of the economy. This happened before, in Argentina. That didn’t turn out too well.
