Not sure how legit this is, but please do check it out. One of DealBreaker's readers sent and posted the purported termsheet for the big Citi rescue. Lots of interesting bits to peruse here.
http://dealbreaker.com/2008/11/insider-rumors-citi-terms-in-d.php
One commenter sums it all up pretty nicely with this:
"Effectively, the fed went from being long 3-100 risk on $309bn of assets to being long $27bn in C preferred shares and 10-100 risk on the $309bn with a 10% risk share with C and a higher interest rate. I still don't understand how this is a good deal for C or any of the other banks other than it says that the Fed is serious about not letting the whole system fail (which we knew already)."
Feel free to weigh in and address the issue.
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