Citi Trying to Exit TARP (C, WFC, BAC)

If the rumor mill is accurate, it seems that Citigroup Inc. (NYSE: C) may get to beat Wells Fargo & Co. (NYSE: WFC) in the race to exit the TARP in the catch-up game to Bank of America Corporation (NYSE: BAC).  It seems every TARP borrower wants out from under such strict government control on pay and operations, let alone all of the scrutiny over every single business decision.  But CNBC’s Maria Bartoromo just noted that Citi may make a announcement as soon as tomorrow of a giant capital raise to exit the TARP.  While some may take this as breaking news, this has been under development all week (or longer) and has been one of the top rumor mill subjects.

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