Financial Institution | featured news

Citigroup's decision to finish repaying TARP funds in December is a major reason for the quarterly loss and its $1.6-billion loss for the year.

Citigroup had its worst quarter of 2009, losing $7.6 billion in the final quarter of the year, or 33 cents per share, due in large part to the company's swift push to leave the government's Troubled Asset Relief Program.

Declaring "We want our money back," President Barack Obama wants to slap a tax on banks to recoup the money that the American public spent on bailing out large financial institutions on the brink of collapse....