Gov't Looks to Sell Citigroup Stock for Profit

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The Treasury department will begin selling its shares in Citigroup soon -- a move that could result in a $7.5 billion profit for the U.S. government.

The government received a large share in Citigroup, Inc., after giving the company $25 billion during the credit crisis in 2008.

Citigroup stock is now on the rise so, like any good investor, the U.S. plans to sell its shares and make a profit.

The government has been trying to turn around its investments in banks made under the $700 billion TARP. Citigroup received $45 billion of the bailout money.

Of that money, $25 billion was the government's ownership stake in the bank. Citigroup paid back the other $20 billion in December 2009.

The Treasury Department owns about 27 percent of the bank's outstanding stock.

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