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24 Comments
- agaiziunas, on 11/23/2008, -0/+28Yet another bad decision in an endless string of bad decisions... meanwhile, Bernanke states: "Ooops, I underestimated the housing problem, sorry..."
And these guys are managing our economy and over a trillion bailout dollars. They are to our economy what Bush was to our foreign policy. - uncajoe, on 11/23/2008, -0/+18I'll just combine Shakespeare and Readers Digest, "Something is rotten in these United States"!
- walruspanzer, on 11/23/2008, -0/+18All of this restructuring of the banking/lending industry makes me feel uneasy. Something bad is afoot.
- GrandmaSheila, on 11/24/2008, -3/+19Citigroup did something old, by hiding $1.23 trillion in dubious investments "off the books."
Of course, it probably helps that:
"Citigroup Chairman Robert Rubin gave $35,600 to Obama-related committees. Citigroup employees donated $460,000 to Obama’s presidential campaign" (LA Times)
and on his advisory board:
Michael Froman
Managing Director, Citigroup
Former Chief of Staff, Department of the Treasury
Oh, and the article referenced has been "edited", although they state "updated 12 minutes ago", since I read it about an hour ago. The reference to the $1.23 trillion in hidden toxic investments has been deleted. But luckily, I already posted it here.
Also, it previously mentioned lay-offs in Citicorp totalling 75,000 jobs. That's gone too. - GrandmaSheila, on 11/23/2008, -0/+13FTA
"The “bad bank” might take on some of Citigroup’s more than $1.23 trillion of off-balance sheet assets. Citigroup might bear the initial losses on the assets, and the government might cover losses beyond a particular threshold, the newspaper reported, citing people familiar with the matter."
The "bad bank" of course being funded by the bankrupted taxpayers.
Where is Congress? Last I heard, Paulson & Bernanke don't own the Trearsury, they're just supposed to manage it. Instead, it's evidently their personal piggy bank, open to every fraudulent thieving Bank in the world, and nobody lifts a finger to stop this, or protect the people's money. - inactive, on 11/24/2008, -0/+12Is this really what shareholders had in mind when they urged Citigroup to "do something now?"
- inactive, on 11/24/2008, -1/+9CAPTAIN OBVIOUS. The crisis is government created and government extended.
- elwill, on 11/24/2008, -0/+6One of the better comments in a while. Obama is setting up a bankers nest, or rather the bankers set up an Obama puppet.
Choosing deomocrats or republicans is like choosing between the two horns of the devil. - Trekhawk, on 11/24/2008, -0/+5It's OK Ben. We're all human We all make mistakes. No one could have seen this housing bubble coming. Ohh, wait.
http://www.ronpaul.com/2008-09-26/ron-paul-on-the- ... - vbullinger, on 11/24/2008, -0/+5"Government reportedly involved in Citi deal."
Noooooooo, really?!?
/sarcasm - merher, on 11/24/2008, -0/+4Like stock up on food/supply bad. It's going to be tough for the next 5 years.
- blindhammer, on 11/24/2008, -3/+7Where's my government bailout for the risky investment I made in a certain Nigerian prince? EH?
- AnotherDiggGuy, on 11/24/2008, -0/+4This is *****.
I have a student loan I'm repaying through Citi, and they absolutely are a horrible financial institution. I know I know, getting a loan through Citi is just asking for trouble, but at the time my college tuition was jacked up my last 2 years and Citi was the only place that would loan me the remaining amounts.
For the past 2 months, They've been calling me every day... I'm current on payments but they refuse to stop calling every day. Even on Sundays (which I thought wasn't allowed). If you answer its just the automated system you get if you were to call them up, and getting to a person is near impossible. But it doesn't matter because a person will tell you your good on payments, but the call a day continues.
I feel like calling them up and saying: "So, now that you guys have $300,000,000,000 in guaranteed assets, are you able to consolidate $5,000 in student loans yet?"
A buddy of mine who didn't have the ambition to graduate college has something like $15,000 in Citi loans... he's my friend but he had pretty much no business getting approved for those loans.
Let those ***** burn for their terrible practices. - wunksta, on 11/24/2008, -0/+4well thats what happens when you dangle money in front of government officials
- inactive, on 11/24/2008, -0/+2This is now the second time in my life that I've been pissed at my government for letting their political donors in Citibank keep up a criminal scheme which should have failed. Time 1 was when they made ***** loans in the late '80s to Mexicans who were obviously not going to pay them back, but that past ***** started the "too big to fail" doctrine/precedent. Nothing has changed now.
It's still a bad deal for us taxpayers, and a good deal for the politically-connected. Ron Paul still warned us about this *****, but almost-nobody listened, so those of us who DID hear his words have an abiding need to say "I told you so" because frankly we did. And the NewSpeak media will probably find a way to once-again blame "free market capitalism" (as if ANYTHING resembling capitalism has been going on for the past few bailout-filled decades) for this chapter of the *****. The antilibertarian bias is sickening, and media bias "watchdogs" are still lapdogs. - PoizonFrog, on 11/24/2008, -0/+1I suppose that's more efficient than just burning money
...and it won't release any greenhouse gas, either.
:( - inactive, on 11/24/2008, -0/+1"Anyone who really believes that Obama represents anything more than a happy smiley face is as delusional as the Bushies who believed in witches, warlocks and weapons of mass destruction. This election was a good cop bad cop, the billionares got over on those of you enamored with the princely President elect. Don't believe me; remember how he stabbed you so deep in the back on FISA that you could see the blade burst out through your heart."
- borez, on 11/24/2008, -1/+2Kleptocratic Socialism at work, plain and simple.
- dwalker, on 11/24/2008, -1/+2Dugg - we are all in for another waste of money. Let the ***** go to the f*cking wall.
- inactive, on 11/24/2008, -1/+2We can one day tell our children/grandchildren that when we were little bad judgment and bad business practices actually had consequences.
- algaeturd, on 11/24/2008, -0/+1Really? Ya think?!
Paulson and Bernanke have hijacked the country's economy. Plain and simple. They've stolen money from every man, woman and child in the United States and nobody gives a *****. Nobody has stood up to point it out and nobody with any power will. But you can be half retarded and still see what's going on. It's as clear as the nose on your face. - strafefire, on 11/24/2008, -0/+1You know, I had a long and involved plan completely typed up and ready to go.
In it, I had a way to get us out of this mess, without having to inflate the living ***** out of the dollar.
But then I said ***** IT, and deleted it, because in all reality NO ONE IS GOING TO LISTEN TO IT ANYWAY (at least no one with any authority to do anything).
I decided that I was going to grab a book or two on how to purchase commodities and currencies.
This way, when hyperinflation hits, because our government is continuing to print money with ZERO regard or even a small amount of GIVE A ***** towards it, I'd be able to still get by, MAYBE even profit from this stupid *****.
Too bad every person IN THE WHOLE WORLD is going to suffer when America goes goes down hill... - mizzaxx, on 11/24/2008, -0/+1You're original.
http://digg.com/business_finance/BREAKING_U_S_Prov ... - cyrusuncc, on 11/24/2008, -0/+1i wish the sarcasm was about the quote...
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