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How does selling these trust-preferred securities relieve the Treasury of its obligations to guarantee troubled assets? (I ask because I don't know)
by pigbucket 16y ago
How does selling these trust-preferred securities relieve the Treasury of its obligations to guarantee troubled assets? (I ask because I don't know)
- jonknee 16y agoBecause they only sold the securities after the guarantee agreement was over: http://news.yahoo.com/s/nm/20100930/bs_nm/us_usa_citigroup_tarp http://news.yahoo.com/s/nm/20100930/bs_nm/us_usa_citigroup_t... > In a statement, the Treasury said it sold all of the trust preferred securities that it received in exchange for guaranteeing a pool of about $301 billion in Citigroup assets. The Treasury never made any payouts on the guarantee, which has been canceled.