Citigroup May End Up With U.S. Government Rescue.
As I recall, China and a lot of rich arab princes from Kuwait, Saudi Arabia etc. own a big chunk of Citigroup. Shouldn't they dig into their pockets to save the bank? It's not like they don't have a lot of assets. And think about it, rescuing Citigroup means that, ultimately, some significiant portion of our money will be used to shore up their investments, no? That said, what is the right size for failure? Sadly, it seems the answer is your average middle class family with an upside down mortgage that just reset. Screw the masses, the rich need to feed.
While we're at it, let's give the Chinese the automakers at fires sale prices in an Obama sponsored Chapter 7 proceeding. That way, we lose the jobs and the industry and STILL fail to pay off most of the debt. Neato, huh? I like getting fucked by right wingers even better when the corporatist media taint lappers tell me that he's a socialist!
Posted by: JDM | November 22, 2008 at 10:48 AM
JDM: Can't disagree with a thing you've written. As for the automakers, there had better be a requirement that the money given to them--and it will be given to them--cannot be used to retool or otherwise support foreign operations. It has to stay here to pay Americans to work. Probably will kill the deal, no? GMB
Posted by: gmb | November 22, 2008 at 01:26 PM
What do you call a situation that has transcended the Absurd?
Are we in a Monty Python Skit?
Posted by: fairlane | November 22, 2008 at 01:30 PM
oh the damage that will be done in the next 57 days. and our fearless chimp is in peru, getting some coke i assume
Posted by: distributorcap | November 22, 2008 at 05:46 PM
Why on earth did that fucking idiot go to Peru? The purported reason, I mean.
Posted by: JDM | November 22, 2008 at 08:21 PM
It's Citi's lucky day. They get tax dollars and our house. I'm so happy for them.
Posted by: DCup | November 22, 2008 at 10:23 PM
JDM: To be out of the country because everyone basically likes Obama and wants him to leave. He needed a hug. And some blow.
DCup: I'm hoping that you can get the relief you all deserve. I'm not religious, so I can't offer a prayer...just sending good wishes. Hey, maybe with all the turmoil you can fade into the woodwork and wait until, hopefully, things improve. GMB
Posted by: gmb | November 22, 2008 at 10:58 PM
And Citi still plans to pay the Mets $20 million to keep its name on the new stadium.
Posted by: Spartacus | November 25, 2008 at 09:55 PM