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Financial Crisis in USA PDF Print E-mail
US banking giant Citigroup reported a quarterly loss of $8.29bn. This after it had to be rescued by a $45bn govt bail-out. Govt also agreed to guarantee $306bn risky loans. The firm cut 52,000 jobs last year. Rival Bank of America is to receive $20bn in govt aid and $118bn worth of guarantees after already receiving $25bn in bail-outs. (BBC, Jan 16, 2009)
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