At What Point?
The Citi deal prompts a few questions from The Big Picture:
Un-fricking-believable.
The US is guaranteeing $306 billion on bad investments (So much for Capitalism without failure). For Citi, its a great deal — but its a terrible one for taxpayers.
The dividend payment has been restricted to one cent per quarter for 3 years. Can someone explain why even a penny is allowed?
Where is the “Protection” for the taxpayers? Where are the clawbacks? How about going after the idiots that bought a third of a trillion dollars worth of junk, and then got paid large on it? Where is the sense of outrage and justice?
At what point do taxpayers demand that the people responsible for creating this mess must pay their pound of flesh?
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Yes read thie article by Whalen this morning… Good to see you putting part of it in here. I also found an intiguing article today ‘Citi’s Underwhelming Bailout’ by Felix Salmon very eye opening… Pick it up at
http://seekingalpha.com/article/107523-citi-s-underwhelming-bailout?source=article_sb_picks
- Chris
Comment by Christian Damon — 11/24/2008 @ 2:34 pm