They listened to Sheriff Brody after all (although whether this will prove big enough is unknown). Just across the wires at 07h27 GMT...
Which gives the TARP a New Number Number 1 (see New York Times graphic below, not yet reflective of this second TARP infusion to Citi) and marks the commitment of circa 50% of its funds which, if you remember the spiel of its boosters, aren't likely to be totally spent and in any case represent a great deal for the taxpayer.
But, to get back on track, according to the WSJ (link below):
The plan would essentially put the government in the position of insuring a slice of Citigroup's balance sheet. That means taxpayers will be on the hook if Citigroup's massive portfolios of mortgage, credit cards, commercial real-estate and big corporate loans continue to sour
It also - belatedly - marks cards on dividend policy for recipients of public money.
(excerpt, full link here. Hat tip, Simon).
WSJ: U.S. Agrees to Rescue Struggling Citigroup
FT: Citigroup gets $20bn bail-out