Week in Review: Citi's Troubles

| About: Citigroup Inc. (C)

Citi: Unable to Exit TARP, & Other Woes

It was a rocky week for Citigroup - it announced it would exit TARP, had trouble raising a secondary, and got sued by Abu Dhabi. All of which certainly gave SA authors plenty to write about.
The Treasury's new plan is to sell its $26.5B in Citigroup (C) shares within 12 months, according to prepared testimony by Assistant Secretary Herbert Allison. Citi's weak pricing prompted the agency to cancel plans to start selling off.
And some springing into action at Citigroup (C) - in the PR department. The bank is suspending foreclosures and evictions for 30 days, a goodwill gesture expected to help 4,000 homeowners.