US may take big stake in Citi


Citigroup had its original birth with Sanford Weil buying degenerate, bottom-feeding subprime companies in the South that preyed on the poor and illiterate. Far as I can see, they’re still the same old girl they used to be. Now their management is begging Uncle Sam for more help while trying to maintain their power? Screw them.

Bob Dobbs sums it up nicely in the comments at Calculated Risk

To expect these guys to show any shame is like expecting a dung beetle to take up knitting. They’ll keep wheedling and dealing and trying to control the situation until the gov’t puts a bullet through Citi’s head, nationalizes it, and breaks it up.  Do it now instead of six months down the line, when even more money has been wasted on these cons.

One comment

  1. Are we doing a good thing for the economy by trying to stabilize companies that are headed out of business because of their entanglement with the market and the number of jobs of that stand to be lost?

    Are we postponing the inevitable? What if these companies go out of business despite the fact that the government has given billions of dollars in an effort to keep the companies going out of business? Where will be then if the government loses billions and all the jobs the government were trying to save are gone any way?

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