U.S. Agrees to Citigroup Bailout (Guarantees $300 billion in toxic assets)

Wall Street Journal ^

[Almondjoy]

Treasury took on only 5 billion.

Well 5 billion is 5 billion.. but it isn’t 300 billion. People need to understand what comes out of their pocket versus what comes out of private companies pocket.

[NinoFan]

Based on Obama’s picks so far, I doubt it. The socialists... oops, I mean, libs, would rather destroy this country with socialized healthcare than use good common sense during these difficult economic times.

[autumnraine]

Give us your poor, your tired, your weak, your hungry...

...your crap loans, your garbage stock, your bankrupt corporations

[dalereed]

They should have let them go under!

Every dollar they print for a stimulus or bail out is stealing from me and the people agreeing to them should be brought up on grand theft charges and put in prison!

[kabar]

Prince Alaweed bin Talel is a major stockholder in Citigroup. I suspect that the Saudis have applied major pressure to make this happen.

[Issaquahking]

That’s it....I’m not paying for anything else. My government is to stupid to let a bad penny go...The inmates have taken over the asylum....

[rickylc]

why would there be changes when rubinites are and will be running the federal show (paulson, benrnancke, geitner, summers)

[madison10]

Great...throw the money down the invisible banking toilet, but don’t bailout real workers. Washington bailing out its own.

[Centurion2000]

200 billions stimulus
700 billion bailout
300 billion for citigroup
WTF is going on here? We the tax payers are going to be buggered and BEGGARED with all this $$ they are throwing out.

Unless they are planning to monetize the debt ... we're all dead meat.

[umgud]

This is insane. Pretty quick you’d think the populace would revolt at their dollars bailing out everybody but them. You and I have to live within our means or face the consequences, but our gov’t keeps giving away our money. My kids and grandkids may never forgive this generation who prematurely bankrupted them.

[OldArmy52]

I lost money too.
How about my bailout?
I want free taxpayer money too!

[rabscuttle385]

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[rabscuttle385]

*Ping!*

[Lilpug15]

If there are no taxes left to be paid since we all become broke or jobless and all countries stop investing in us because the value of the dollar becomes worthless and we face Weimer Republic - at what point is the U.S. technically heading here:

[Ernest_at_the_Beach]

Obama in the act already...GM, Ford and Chrysler up next!

[Ernest_at_the_Beach]

Marketwatch:

U.S. agrees to bail out Citigroup: WSJ

*************************EXCERPT****************************

A similar assistance structure was used successfully in the 1990s, with funding from private investors, to rescue Mellon Bank, now called Bank of New York Mellon Corp.

[ConservativeCompendium.net]

So about a trillion and a half dollars later and we have:

Nbr of changes made to ensure this doesn't happen again: 0

Nbr of perp walks: 0

Nbr of congressional hearings: 0

Nbr of times this will happen in the future: Infinite - It works!

Charming ;(

And of course nobody in the Fed govt will have any idea where THIS $300 billion goes either.

Banks are laughing their asses off over this. THey got the feds cowed and the banks are just sitting on all this fortune and investing it in a better opportunity, earning far better earnings than they were this time last year.

[XR7]

So, how much of he Bush bailout/sellout money is left?

[downwdims]

Madness?

[Ernest_at_the_Beach]

PDF File containing the details from the Treasury :

Treasury Department statement