There is still no Citigroup rescue plan as of Sunday 8:00PM EST, but as this CNN article describes, an annoucement could come out as early as tonight. This New York Times article goes into detail of how Citigroup got into this mess. Two other interesting banking related articles of the financial crisis:
- MSNBC: FDIC to guarantee $1.4 trillion in bank debt, Excerpts: "The FDIC program is meant to break the crippling logjam in bank-to-bank lending by guaranteeing the new debt in the event of payment default by the borrowing bank."
- MSNBC: Bank regulator played advocate not enforcer, Excerpts: "Office of Thrift Supervision let lenders grow out of control, eventually fail." Article references Friday's closure of Downey Savings.