US treasury puts sale of Citigroup stake on hold
• Troubled US bank botched $20.5bn fundraising• US treasury would have made a loss on sale of shares
Confidence in the ability of Citigroup to weather the financial crisis plummeted today after the troubled US bank botched a $20.5bn (£12.5bn) fundraising intended to pave the way for repayment of billions of dollars in emergency support from [...]
Bank of America chief Ken Lewis ordered to pay back salary
• US pay tsar rules Ken Lewis will receive no pay this year• Citigroup, General Motors and Chrysler also under scrutiny
Outgoing Bank of America chief executive Ken Lewis will get no pay this year, the US government’s pay tsar has ruled.
Kenneth Feinberg, the US treasury department official who is scrutinising pay packages at bailed-out banks, [...]
