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    Home » 2009 » The Government’s Retention of Loot Plan

    The Government’s Retention of Loot Plan

    December 15, 2009 by Administrator  
    Posted in: 2009

    From Politico.com: Citigroup gains massive tax break in deal with IRS

    The IRS has issued an exception to tax rules for the benefit of companies including Citigroup. As a result, Citigroup will be allowed to retain $38 billion in tax breaks that otherwise would decline in value when the government sells its stake to private investors.

    So they make CitiGoup give back $20M in Bailout Booty and make them not liable for $38M in taxes.

    Nice deal if you can get it.


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