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Sunday, February 22, 2009 8:49:12 AM
Citigroup shares join US stock market plunge as White House promises to clear up toxic assets
By Stephen Foley in New York
Sunday, 22 February 2009
The Obama administration is promising to flesh out its plan to repair the US banking system THIS WEEK as investors and Wall Street executives express concerns about the creeping nationalisation of their industry.
With the US stock market sliding towards levels not seen in more than a decade, the Treasury hopes to lift some of the uncertainty with details on how to clear up the toxic assets clogging bank balance sheets and to “stress test” the solvency of the nation’s biggest financial institutions..........
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