Here is a recap of the top news items of the week on Wall Street:

1. Confirming what many had already expected, Citi (NYSE: C) announced Friday that the U.S. government will take a 36% stake in it, issuing common stock in exchange for preferred securities, increasing its tangible common equity without any further investment. Specifically, Citi will offer to exchange common stock for up to $27.5 billion of its existing preferred securities and trust preferred securities at a conversion price of $3.25 a share. The U.S. government will match this exchange up to a maximum of $25 billion face value