For all of those critical of the bank bailouts....it's payback time.
The Treasury picked up over 27% of Citi Bank stock through the bailout at under $1.00 a share. It's trading at $4.31, a profit of over 350%. And the best part....the Feds don't have to pay the capital gains tax.
For Citi Bank, it gets them out form under the feet of the Feds so their bonus packages won't be regulated anymore.