Citi chairman tells Reuters he doesn’t need more money from Uncle Sam

Reuters carried exclusive comments on March 12 from Citi’s chairman that the bank didn’t need any more government money and would remain in private hands. Citi shares jumped 14 percent in pre-opening trading and closed 7 pct higher. The comments from Citi chairman Richard Parsons also injected a note of optimism into a financial services industry desperate for good news, and helped lift the stock market for a fourth straight day. Bloomberg and Dow Jones were unable to match the story and were forced to pick up the Reuters exclusive.