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Bill Moyers Journal

The New White House Web Site

February 27, 2009

On Friday, February 27, responding to continuing troubles at Citigroup, the Obama administration unveiled a complex stock transaction that would increase the nation's stake in the failed bank to 38%. According to experts, by purposely avoiding a more than 50% ownership stake in the bank, the Obama administration remains consistent with its publicly stated opposition to nationalizing major banks. The move increases the risk to taxpayers, but also potential reward, should the bank turn around and become profitable.    Continue.....

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