Citigroup wants to increase the float from 15 billion shares to 60 billion shares! Additionally they want to reserve the right to do a reverse split any time before 2010. The real kicker is that any future reverse split will not affect preferred shareholders. All along this bailout has been about nothing more than protecting a few very wealthy individuals. Citigroup is now a true penny stock because they are fully willing to take advantage of common stockholders
Here is a link to Citigroups proposal.