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Citigroup Gets Huge New $38 Billion Bailout, Wiping Out All of Taxpayer’s “Profits”
Bank Bailouts
The Treasury may have made some silly paper “profit” on its bailout of Citigroup (C) but the taxpayer may not get much of anything.
The Washington Post reports that as part of the bank’s TARP payback agreement, it’s quietly been given a $38 billion tax break by the IRS. Seriously.
The Internal Revenue Service on Friday issued an exception to long-standing tax rules...
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