Gov’t announces bailout plan for Citigroup
The U.S. government on Sunday announced a massive rescue package for Citigroup – one of the financial institutions hit hardest since the mortgage market began to implode last year.
The U.S. Treasury and the Federal Deposit Insurance Corporation (FDIC) will backstop some losses against more than $300 billion in troubled assets. The Treasury will make a fresh $20 billion investment in the bank. The government has already injected $25 billion into Citigroup as part of the $700 billion bailout passed by Congress in October. CNNMoney.com
Chris Brown’s big night
Chris Brown was the big winner at the American Music Awards last night taking home the award for artist of the year as well as favorite male artist in both the pop/rock and soul/R&B categories.
Kanye West also impressed snagging the awards for favorite male rap/hip-hop artist and favorite rap/hip-hop album for his CD, “Graduation.” And West issued a challenge to his peers last night.
“It’s our responsibility as musicians to keep pushing each other,” West said. “We will be the new Beatles, the new (Jimi) Hendrix. I want to be Elvis.” ABC News
Just have sex for God’s sake!
A week after the Rev. Ed Young, pastor of the evangelical Fellowship Church in Texas, challenged husbands and wives among his flock of 20,000 to strengthen their unions through Seven Days of Sex, his advice was — keep it going. NY Times
Video of the day: