Citigroup(NYSE:C) is expected to pay back the TARP money soon. They have been rumored to raise capital by issuing a huge secondary offering. This is similar to what Bank of America(NYSE:BAC) just completed. Citigroup is expected to raise $20 billion dollars in this offering. One can only wonder what the rush is to pay the TARP back lately. On Monday twelve major banks, including Citigroup Inc (NYSE:C), Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM), and others had a meeting with President Barack Obama in the White House, an administration official said on Thursday.
Technically speaking of Citigroup there will be intraday resistance at the $3.93 level. The downside intraday support level looks at 3.83.
