The Wall Street Journal reports that Citigroup is in talks with the federal government about an aggressive plan that could leave taxpayers owning between 25 and 40 percent of the bank's common stock. The plan would convert a large portion of the government's current $45 billion in preferred stocks into common stock in exchange for funneling capital into the ailing bank corporation. The change wouldn't cost extra money to taxpayers, but would dilute the value of privately held shares currently belonging to Citigroup stock owners.
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