UL-Lafayette Analyst: Government Turns Profit Selling Citigroup Shares

(Lafayette, LA)  --  A finance expert says the U.S. has made a profit of more than three-billion dollars by selling shares of Citigroup.

The government bought billions of dollars of shares in Citigroup as part of the Troubled Assets Relief Program approved in 2008 by then-President George W. Bush.  University of Louisiana at Lafayette assistance finance professor Linus Watson says an examination of a government report shows the government has been selling billions of Citigroup shares since April.  The shares bought at about $3.25 each are being sold at an average price of $4.15 each.