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600 Comments
- blindhammer, on 11/24/2008, -4/+435Perhaps the government will help bail me out for my risky investment in a certain Nigerian prince ...
- d2002, on 11/24/2008, -4/+347God damn it. STOP DOING THAT!
- playuhh, on 11/24/2008, -4/+336The title should just be BREAKING: U.S.
- Subriot, on 11/24/2008, -5/+248As angry as I am, is this really a surprise?
- rootnik, on 11/24/2008, -3/+167Citibank didn't bail me out 11 years ago when I was young, stupid and defaulted on their $200 credit card. I ended up paying over 1k after interest to clean it up.
- Waiting2awake, on 11/24/2008, -13/+125So is this enough America? Can we drop the illusion of who your true enemies are now? If you want to find out who is attacking you, no need to go into caves - just go to DC.
Tell me, why is when it was thought that America's enemies were overseas and the military were going to fight the enemies of the US - just about every American was beaming with Rambo-eske pride, everyone wanted a piece of flesh from those that hurt Ol' Lady Liberty..... And now here we are, all the true enemies exposed in all their grandeur, all within reach to all those Rambo-eske Patriot loving Americans... and they.....
sit twiddling their thumbs...
Wonder what your forefathers would have thought of this.. - DurtyJ, on 11/24/2008, -2/+109Breaking news: Citibank has just booked an all inclusive vacation to the Caribbean.
As subprime and surge were to 2007, bailout is to 2008. - inactive, on 11/24/2008, -12/+112I'm almost ready to move to Canada where they dont have these problems.
- Racer20, on 11/24/2008, -3/+83I don't ***** understand why we've thrown well over a trillion dollars at all these banks, who arguably have had a major hand in destroying the economy of the whole world, and when three of the largest manufacturers in the world, who actually make tangible products instead of making ***** up to get rich (credit default swaps anyone?), ask for a "mere" $25 billion to save millions of jobs, there's this huge outcry from congress and the public.
- Kayakityak, on 11/24/2008, -1/+76Total economic collapse in 3. 2. 1.....
- socialexpert, on 11/24/2008, -3/+76Bailout is the wrong word. It’s not a bailout, it’s a whitewash.
- ScottMitchell, on 11/24/2008, -2/+74Ah, how sweet it is to be "too big to fail." Citi now... BofA, next.
- inactive, on 11/24/2008, -1/+70But, but... This is being done so the banks will "start lending again". Oh wait. Borrowing money that couldn't be repaid is what got us here. Hmmm. Oh ya, I'm forgetting that when "when banks lend it creates jobs".
So, according to Paulson, the lesson here is that enabling banks to lend money to people who can't afford to pay it back creates jobs. Got it.
Somehow my consumer confidence is not restored. - sanman, on 11/24/2008, -3/+66the US treasury is about to introduce a new currency denomination:
the bazillion - loadedpenguin, on 11/24/2008, -7/+67Why oh why are we doing this? I'd rather see Ford and GM bailed out. At least they can foster innovation. Citi is primarily a credit services company. Their "product" is a cloud of credit for all practical purposes. Their business model is managing risk. If Congress really wants to make a difference and insists on a "bail out" they should "bail out" students. Forgive all student loans. I think most recent grads who are enslaved to their college debt would probably buy cars, electronics, and other consumer products if they weren't paying off their education for 20 years. That would stimulate the economy more so than this.
- seltaeb4, on 11/24/2008, -8/+66I just love how all of these "laissez-faire," "get the government the hell off our backs" capitalists come screaming and crying to Washington for handouts when they hit a bump in the road.
Where are all the "pull yourselves up by you bootstraps" Republicans now? The "if you really want it, you'll just have to work harder" crowd? - Mujokan, on 11/24/2008, -0/+58Note that they aren't GIVING them $300 billion, but guaranteeing assets worth that. However, some of that money will be lost because the assets are crappy. They are also buying a big stake in the company.
People should be angry. There has been criminal negligence and outright fraud in the financial sector. - TConundrum, on 11/24/2008, -1/+55How much bailout money is that in total now?
- muckemuck, on 11/24/2008, -5/+59End the Fed.. like JFK wanted.. http://www.john-f-kennedy.net/executiveorder11110. ...
- sanman, on 11/24/2008, -1/+52where we're going, we won't need roads
- JBrown99, on 11/24/2008, -1/+50And yet all of us with student loans through them will still be forced to pay the high interest rates right out of college.
- jnnycakes, on 11/24/2008, -0/+47The link below puts the figure at roughly $4.3 trillion(!) as of Nov. 13. Add in this $320 billion and we're looking at a little over $4.6 trillion. Fantastic.
http://www.cnbc.com/id/27719011 - xerigen, on 11/24/2008, -5/+52Enough tinfoil? The Federal Reserve (a private bank, look it up) loans the US government Federal Reserve notes AT INTEREST. If only The Federal Reserve can create money, obviously they create the principal. But where does the interest come from? It doesn't exist; the payment comes from your taxes, it's a transfer of wealth from you to the banks. They have created perpetual debt and have promised themselves revenue forever.
- brstilson, on 11/24/2008, -2/+47Horray for corporate socialism!
- ThaBBoyWannaB, on 11/24/2008, -0/+43Keep him at 0.
- rootnik, on 11/24/2008, -0/+42Good Morning America just showed a full page add that Citi has in the newspapers today telling customers that "everything will be alright, Citi will survive".
QUIT SPENDING MONEY ON STUPID ***** LIKE THIS.
I want my taxes back. - zombie210, on 11/24/2008, -1/+43Damn it, another south of the border type wanting to hope the fence into Canada and take out jobs, maybe we should raise our own version of minutemen or something.
- inactive, on 11/24/2008, -14/+55Folks, this is the just the very beginning of the bail outs. You cannot fix a problem with more of the same problem, it doesn't take a economist to understand common sense.
Ron Paul, and any person who has a clue of what's really going on, have said many times now that we have not even begun to see the real problems of our broken economy. Unfortunately, all of us are going to find out he, and others, were right about the Federal Reserve and our complete abandonment of the free market capitalism that made this country great.
Mark his words, he's been right about the economy so many times any sane person shouldn't ignore him. - Nonyaz, on 06/23/2009, -5/+46Is this coming out of the 700B bailout funds, and if so, did they leave any for the auomakers?
- Zanarkand, on 11/24/2008, -0/+39I tried to refinance my student loans and combine 2 years of Citibank student loans (my parents covered the first two) into one and make my payments lower a few years back and was told no. They were charging me $500 a month. I told the guy on the phone I could afford to pay but I would need more time since my wife was going through some immigration problems and wouldn't be working for a while. I asked for a break and was told no. And now the government took my money to help them....***** this *****. I never missed a payment even if it meant eating ramen noodles every day for a few months, and yet these ***** cry a tear and they get help...
- inactive, on 11/24/2008, -3/+40*ding ding* we have a winner.
- randumbusername, on 11/24/2008, -2/+39what the point of working? this is why it doesn't make sense to save up cash. you go to work to attain capital, these "too big to fails" get in trouble and you're back at square one.
i don't know how much more of this im going to take. if government is going to continue making all these socialist trends might as well go to a socialist country where they are honest about it and i can enjoy my time.
i really despise government and unfortunately all we are going get is more of it. - Agorist, on 11/24/2008, -1/+35Why would Obama want to revert the bailouts? He voted for them!
- bluecrew02, on 11/24/2008, -0/+33Every damn company and bank is too big to go under. When the Hell is the American people to important to screw over?
- cdigioia, on 11/24/2008, -1/+34Maybe we shouldn't let companies get "too big to fail". Increased competition is a good thing, you know, the foundation of the free market right wingers pretend to espouse.
- AeonTorpor, on 11/24/2008, -1/+349/11 changed everything
/s *vomits* - spepin, on 11/24/2008, -2/+34So what's this now, $1,000,000,000,000 in bailouts in a few months?
- miriv365, on 11/24/2008, -0/+31They keep pouring money into corporations that don't deserve it... regardless of the moniker of being "...too big too fail...," those companies should be allowed to suffer the consequences of their actions.
Congress sits idly by while letting the these corporations loot the treasury. This is why we need to have term limits... because in the end.. I put a lot of the blame on Congress (both parties). If they weren't so beholden to their corporate masters we probably wouldn't be in such a mess.
I think there should be term limits of 12 years for both the Senate and the House. 2 terms for Senator, 6 terms for a Representative. If you can't get stuff done in 12 years you are trying to get rich (by setting yourself up as a future lobbyist, or worse, through graft) or you are just plain incompetent, and don't need to be doing that job anyway.
There are those who would say we would be losing a lot of experience if you instituted term limits.. (your rep or senator losing a key committee post or whatever), but I don't think that would be the case. New people can bring fresh ideas, and I think it's a good idea for people to fear losing their post in life...it makes them think differently.
Too bad this will never happen.... Congress would never kick off adding this kind of amendment to the Constitution...it would have to be started with a grassroots level, and I think Americans are too apathetic at this point to even care... - inactive, on 11/24/2008, -2/+33+10 exp gained
- JackpotCity, on 11/24/2008, -2/+32Is there no end to the bailout list?
- sanman, on 11/24/2008, -1/+30why not just have a bailout for every big rich entity?
this is like taxpayer-funded golden parachutes
I dunno who they think is going to pay for all of this
If other countries start trading oil in Euro's and bypassing US currency, then the US is sunk for sure - ctrlv, on 11/24/2008, -6/+33That's what she said.
- akula89, on 11/24/2008, -0/+26Citigroup Inc PAC gave $581,216 to President Elect Obama
http://www.opensecrets.org/pres08/contrib.php?cycl ...
who else?
Emanuel, Rahm$28,000
Hagel, Chuck$24,100
Biden, Joseph R Jr$23,950
Durbin, Dick$40,250
Rangel, Charles B$61,450
Clinton, Hillary$392,667 (Senate)
Obama, Barack$458,962 (Senate)
http://www.opensecrets.org/orgs/toprecips.php?id=D ... - inactive, on 11/24/2008, -4/+30Citibank = Rockerfella
Ho hum... - Tbyrd073, on 11/24/2008, -1/+24Why turn this into a party thing? Democrats voted it in too. Two parties got us into this mess.
- flashboy131, on 11/24/2008, -5/+27Bail me out and pay my mortgage.
***** get 300 BILLION for ***** up a company.
when they lay people off will they help us out?
this administration is so corrupt bring back the guillotine. - TexasKoz, on 11/24/2008, -0/+21Where is the bottom of the pocket? Who will bail out the USA when it is out of money?
- lex0nyc, on 11/24/2008, -1/+22My Nigerian friend lost his shirt trying to invest with President Geewubbushee of the United States.
- fugazied, on 11/24/2008, -0/+20The credit card companies and banks screw the average tax payer in 2 ways. We have to pay exorbitant fees on our accounts and ridiculously high interest rates for poor service and we bail them out with our tax dollars.
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