Citigroup Bailout Bolsters US Stocks
862 views · Published 25 November 2008 · 2:22 · Indexed 20 September 2026
Channel: Voice of America · 2008 · News & Politics
Wall Street extended its gains on Monday, buoyed by news that President-elect Barack Obama has named his economic team and that the present administration is stepping in to save one of the largest investment banks in the world. The Treasury Department, the Federal Reserve Bank and the Federal Deposit Insurance Corporation have agreed to rescue Citigroup, which has been struggling to survive major losses brought on by bad mortgage investments.
