Obama is about to rake in the big money for U.S. taxpayers. [begin sarcasm] He's such a communist. [/sarcasm] Via The Washington Post, bolding is mine.
The Obama administration is making final preparations to sell its stake in the New York bank1, according to industry and federal sources. At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.
On paper, the government's 27 percent stake has grown in value to $33 billion. The size of the deal in the works has Wall Street buzzing. Only the stock offering by Japan's Nippon Telegraph and Telephone, which raised $36.8 billion in 1987, was larger, according to Thomson Reuters.
1 One of the largest Citigroup shareholders is Saudi Prince Alwaleed bin Talal2.
2 Prince Alwaleed is the second largest shareholder in News Corp.
