Citi Federal

[DavidS]

Nov. 21 (Bloomberg) -- Citigroup Inc. will probably get rescued by the U.S. government after a crisis in confidence erased half its stock-market value in three days, investors and analysts said.

Citigroup has more than $2 trillion of assets, dwarfing companies such as American International Group Inc. that got U.S. support this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.’s bankruptcy in September.

Story here.

 

[Isolde]

Oh lookie David, it's time for good old fashioned political payback. Money talks.

I would be remiss if I didn't post the entire article.

http://www.nydailynews.com/money/20...st_new_york_pols_favor_bailout_and_get-2.html

 

[dilloduck]

Oh lookie David, it's time for good old fashioned political payback. Money talks.

I would be remiss if I didn't post the entire article.

Most New York pols favor bailout and get fat campaign donations from largest financial firm

pure, unadulterated, bribery. Why do we put up with it ?

 

[Isolde]

pure, unadulterated, bribery. Why do we put up with it ?

We need a lottery system to elect our officials. No campaign, just put your name in the hat and let the luckiest man/woman win. Nobody is beholden and nobody is spending obscene amounts on campaigns, the media does not influence dick.

Yesh.....

 

[dilloduck]

We need a lottery system to elect our officials. No campaign, just put your name in the hat and let the luckiest man/woman win. Nobody is beholden and nobody is spending obscene amounts on campaigns, the media does not influence dick.

Yesh.....

couldn't be any worse than what we have now---.

 

[DavidS]

EXCERPT:

The bank has met with officials from the Federal Reserve and the U.S. Treasury Department in recent days to discuss its options, which include an endorsement from the government and another capital injection from the Treasury, the person said, requesting anonymity because he is not authorized to speak to the press.

Story here.

 

[DavidS]

NYTIMES: Plans to Rescue Citigroup Begins to Emerge

Story here:

 

[DavidS]

HOLY SHIT!

US to Guarantee Over $300 Billion in Citigroup Assets - Stock Market * US * News * Story - CNBC.com

 

[editec]

pure, unadulterated, bribery. Why do we put up with it ?

Because they have the police, the FBI, the CIA, the DEA, and about thirty or fourty other armed police forces?

Just a guess, of course. I'm surely not the guy who can explain why American put up with the shit they do, that's for damned sure.

But maybe, just maybe, some of us only put up with it because just enough of us are well paid enough that they can control the vast majority of us who aren't?