Citigroup’s (Second) Bailout: 7 Things to Know

Poker Game

I think wall street and the banks, Auto's ,have all been playing poker and nobody kept track of it. All to fat to see there feet. Why dont they call it a hand out? And also how

many hand outs can USA withstand with two wars going on?

Old time lessons.

jack of NY @ Nov 25, 2008 11:27:30 AM

Citigroup Bailout

A couple of comments, one of citigroups majors investors is a saudi, Prince Al-Waleed bin Talal, he is into Citigroup for over a billion dollars. Do we really want to be bailing these guys out?

Second any returns on these bailout loans should be returned to us taxpayers. Not go into a government general fund as the returns from the Chrysler bailout did. Send every taxpayer a check is what should happen. The government has proven they do not know how to handle money.

Ron of TX @ Nov 24, 2008 15:17:16 PM

Time for a breakup

The trouble with these large banking concerns is their inability to react to changing conditions fast enough. They are just too big. Smaller, more nimble banks seem to still be loaning money for cars and mortgages while the bigger ones are holding onto the money because of the regulations the government has imposed for asset/debt ratio's. It's time the Fed let these "giant of the industry" fail and let the smaller regional banks take control. After all, they can't cover their world wide losses without the American consumer paying for it in the long run and for a long time. Hey Citi and B of A, shouldn't everyone be paying 27% on their credit cards?

Brian Vogler of NY @ Nov 24, 2008 14:53:38 PM

Citigroup Bailout

Bailout number two?!?! To me, any government bailout (my tax money being used) be it for investment banks, automakers, financial groups, etc. should come with BIG strings attached. When I ask a bank for a loan, I have to show that I can pay it back with interest. Should be just the same for the big guys. No payback with interest plan in place, no loan! Chapter 11 may be the tonic that our financial system needs to get the message. Leave my money alone!

Happy Husband of MA @ Nov 24, 2008 14:45:21 PM

A Debt to Repay

Citigroup executives should be ashamed of themselves. As bankers, risk assessment is supposed to be their forte. Instead they have bought into a house of cards built on a shaky foundation of assets made of sand mixed with greed.

While the bank is apparently "too big to fail," and therefore must be rescued, I hope these executives will place their tails firmly between their legs and go back to the basic banking business of lending money at reasonable rates to people who can pay it back, while gradually paying back their own debt to Uncle Sam. Meanwhile, our country as a whole needs to focus on producing goods and services of real value rather than exporting dubious financial products that wind up fleecing our foreign business partners as well as U.S. taxpayers.

What a waste! Think what $45 billion dollars in taxpayer money could do for the U.S. educational system...

ed of CA @ Nov 24, 2008 14:01:28 PM