• Troubled US bank botched $20.5bn fundraising • US treasury would have made a loss on sale of shares Confidence in the ability of Citigroup to weather the financial crisis plummeted today after the troubled US bank botched a $20.5bn (£12.5bn) fundraising intended to pave the way for repayment of billions of dollars in emergency support from US taxpayers. Shares in the bank plunged by 7% at the stock market’s opening bell today, sparking sharp criticism of its management from Wall Street analysts. Citigroup, which came close to collapse during the financial crisis, encountered tepid demand from investors for a placement of 5.4bn new shares late on Wednesday