Bailout is 2008 Word of the Year
Another year, another word of the year tied to the ongoing housing crisis.
Merriam-Webster unveiled its word of the year for 2008, selecting the term “bailout” because it received the highest intensity of lookups over the shortest period of time.
The online dictionary defines it as “a rescue from financial distress,” though more opinionated readers could perhaps define it more strongly.
Citigroup Gets Its Bailout
I suppose Citigroup is too big to fail after all…
Citi today reached an agreement with the Treasury, Federal Reverse, and FDIC, aimed at strengthening capital ratios, reducing risk, and boosting liquidity at the ailing bank.
The Treasury will invest $20 billion in the bank via preferred stock under the Troubled Asset Relief Program (TARP), on top of the $25 billion initially invested.
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