Citigroup Does the Splits

		<a href='http://ads.truthdig.com/banners/www/delivery/ck.php?n=a9cd87eb&cb=1361384037' target='_blank'><img src='http://ads.truthdig.com/banners/www/delivery/avw.php?zoneid=1&cb=1361384037&n=a9cd87eb' border='0' alt='' /></a>	February 18, 2012 Log in / Register
			Text Size

Past Events Upcoming Events

Truthdigger of the Week: Lt. Col. Daniel L. Davis

This Gay Man Represented the President

Déjà Pooh

Apple's China Comes Home to Haunt Us

What's Really at Stake in 2012

Truthdigger of the Week: Lt. Col. Daniel L. Davis

Interracial Love Is No Societal Cure-All
By Marcia Alesan Dawkins

Comes the Revolution
By Richard Reeves

Pay Close Attention to China
By Eugene Robinson

Gov. Christie Nixes New Jersey Gay Marriage Bill

Google Caught Tracking Apple Users

Santorum’s Super PAC Backer Makes a Sexist Gaffe, Walks It Back

Gay Marriage Bill Awaits Governor’s Call in N.J.

Target Knows Your Secrets

OWS Might Get a Super PAC

‘Left, Right & Center’: Cars, Contraception and China

Occupy Fashion Week

Putin on Trial ... Almost

‘Colbert Report’: Contraception Crusade

Déjà Pooh
By Mr. Fish

This Gay Man Represented the President
By Mel White

Whither ‘Colbert Report’?

Herman Cain Will Not Dance With the Stars

The Questions Education Reformers Aren’t Asking

Dig led by Mike Rose

Financial Meltdown 101

A Dig compiled by the editors of Truthdig

The Wars of Watergate: The Last Crisis of Richard Nixon

By Stanley Kutler
$13.57

Deception: Pakistan, the United States, and the Secret Trade in Nuclear Weapons

By Adrian Levy and Catherine Scott-Clark
$19.11

Ringer T

$23

Citigroup Does the Splits

pattisonsign.com

Citigroup reported an $8.29 billion loss in the fourth quarter and is bracing for another dismal year.

After receiving $45 billion from U.S. taxpayers just two months ago, Citibank’s much-maligned parent Citigroup will be no longer, as the financial giant announced in Solomon-style manner Friday that it will split itself into two, dividing the company’s traditional banking business— becoming Citicorp—and its riskier investment department—Citi Holdings.

The BBC:

Struggling US banking giant Citigroup has announced plans to split the firm in two, as it reported a quarterly loss of $8.29bn (£5.6bn).

It said it would realign into two new firms, Citicorp and Citi Holdings.

Citicorp will handle the company’s traditional banking work, while Citi Holdings will take on the firm’s riskiest investment assets.

Last autumn, Citigroup had to be rescued by the US government in a bail-out deal totalling $45bn.

Read more

More Below the Ad