The irony about Citi’s $5bn debt borrowing

So here’s the story from the FT:

Citigroup raised $5bn in government-guaranteed bonds on Tuesday under a emergency facility that is set to expire in six weeks and has been abandoned by most of its rivals as market conditions improved.

Citi’s move to tap the government-backed plan – introduced at the height of the crisis last year – could complicate attempts by its management to persuade the government to reduce its 34 per cent stake in the bank.

Why complicated? Because it’s like saying, we don’t want you… but we need you.

Source: FT

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