Citi plans to go it alone, no more government aid


Citigroup's (C) Chairman Richard Parsons made it clear Thursday that he doesn't intend to seek any more capital injections from the government and is certain Citigroup will remain in private hands. When asked by Reuters if Citi needs more government bailout money, Parsons said, "No, I think actually, particularly with the latest conversion ... Citi is actually one of the better capitalized banks in the world."

What Parsons didn't emphasize in the interview though was the fact that the U.S. government now has a 36 percent stake in the bank since the conversion of $25 billion of preferred stock to common stock. To get to that level of capitalization, Citigroup needed $45 billion in bailout fund from the government. But, Parsons did say he does not think that the government is planning to nationalize any banks.