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Citigroup Insight: The Municipal-Bond ‘Tragedy’ Explained

Jefferson County, Alabama, is taking steps to remove Citigroup from a significant municipal-bond transaction worth $2.5 billion.

Citigroup Office Stands Tall as the bank faces repercussions after closing its public finance division. PHOTO: IM Dyson/Getty Images
Citigroup Office Stands Tall as the bank faces repercussions after closing its public finance division. PHOTO: IM Dyson/Getty Images

This decision comes after Citigroup announced the closure of its public finance division. The county, which filed for bankruptcy in 2011, had initially selected Citigroup as the lead manager

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