Obama Administration Earns $12 Billion Profit on Citigroup Bailout

President Obama has been taking a lot of grief from his political friends and his political enemies. I suspect that he must be feeling good at knowing that his administration continues to do well behind the scenes. The U.S. Treasury is selling off the last remaining shares from the Citigroup bailout. All told, taxpayers will reap a $12 billion gain on the government's multi-billion dollar investment in Citigroup.