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Citigroup to get $306 Billion Bailout
Huliq News ^ | November 24, 2008

Posted on 11/24/2008 11:49:46 AM PST by 2ndDivisionVet

Main Street continues to suffer without help, while Wall Street continues to get billions of dollars of money thrown at it. Citigroup is the latest corporation in line for a bailout.

While its always said we don't have money for social security, medicare, schools, infrastructure repair, health care, we have plenty for Citigroup (and others) it seems.

According to MSNBC, late Sunday, the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp announced the bailout jointly. The U.S. government will take a $20 billion stake in the company, as well as guaranteeing as much as $306 billion of risky loans and mortgage-backed securities.

Other sources said the deal was still being finalized.

But it seems like a rescue for Citigroup is inevitable, despite opposition by many. The stock has crashed even faster than the market as a whole, and a move such as this is seen as vital to stabilizing the company and bringing confidence back to investors.

The proposal could establish a sort of "bad bank," according to the Washington Post to hold the toxic sexurities. One could also see that this could be extended to other banks, or used as a template.


TOPICS: Business/Economy; Crime/Corruption; Extended News; Government
KEYWORDS: bailout; bush; citigroup; corruption; economy; financialcrisis; hankpaulson; wallstreet
Those worried about socialism in this country are a little late, it seems.
1 posted on 11/24/2008 11:49:46 AM PST by 2ndDivisionVet
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To: 2ndDivisionVet

INSIGHT
“Every time that we try to lift a problem from our own shoulders, and shift that problem to the hands of the government, to the same extent we are sacrificing the liberties of our people.” —John F. Kennedy


2 posted on 11/24/2008 11:51:13 AM PST by Burlem
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To: Burlem

Bushonomics:

Privatize Gains, Socialize Losses!


3 posted on 11/24/2008 11:52:46 AM PST by Uncle Miltie (SARAH *** JOE *** 2012!)
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To: 2ndDivisionVet

That 750 Billion is being eaten up fast!...............


4 posted on 11/24/2008 11:53:16 AM PST by Red Badger (Never has a man risen so far, so fast and is expected to do so much, for so many, with so little...)
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To: 2ndDivisionVet
OBAMA, THE STOCK MARKET, AND ENERGY
5 posted on 11/24/2008 11:53:25 AM PST by Jeff Head (Freedom is not free...never has been, never will be. (www.dragonsfuryseries.com))
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To: Red Badger

I read where the Fed is up to 2 Trillion - more than the Iraq war!

tax and spend republicans. what is wrong here?!?


6 posted on 11/24/2008 11:55:44 AM PST by cetarist
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To: Burlem

Is this a joke ?


7 posted on 11/24/2008 11:56:30 AM PST by BlueMoose
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To: 2ndDivisionVet
sexurities

I'm interested to find out more about this.
8 posted on 11/24/2008 11:58:08 AM PST by mysterio
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To: Red Badger

Eaten up mighty fast....

9 posted on 11/24/2008 11:58:12 AM PST by theDentist (Qwerty ergo typo : I type, therefore I misspell)
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To: 2ndDivisionVet; swarthyguy

“The proposal could establish a sort of “bad bank,” according to the Washington Post to hold the toxic sexurities.”

That’s some clever Paulsonian moves. First plan to by toxic paper directly—something only a Goldman Sachs guy and his ilk could think a good move. Then the Euros say no, don’t do that, and order Bush and Paulson to follow their lead and buy parts of banks, recapitalize. So Paulson says OK! and keeps separate toxic debt plans by redesignating the debt in a new bank.


10 posted on 11/24/2008 11:59:11 AM PST by Shermy (Rush Limbaugh is an agent of Saudi Arabia. At least Aramco, basically the same thing.)
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To: 2ndDivisionVet
Citi Group 306 Billion? Isn't that special!

And yes it is a bit late for folks to start worrying about socialism. It has been a long time arriving and now it is at full tilt boogie!

11 posted on 11/24/2008 11:59:38 AM PST by ImpBill ("America ... where are you now?" signed, a little "r" republican!)
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To: ImpBill

Especially since these are same loan sharks that enslave those with credit card debt while taking a bailout from the taxpayers.


12 posted on 11/24/2008 12:02:41 PM PST by ThisLittleLightofMine
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To: Shermy

I don’t have the knowledge to follow all the ins and outs of this fiasco.

But, I do recognize a humungous ripoff scam engineered by Bush, Paulson, Pelosi, Reid and Bernanke.

On the plus side, the credit companies more than doubled my credit limit, and I keep getting offers to get into deeper hock with more credit cards.

What a country.


13 posted on 11/24/2008 12:03:14 PM PST by swarthyguy (*Bush Promised us Osama, but instead we're getting Obama*)
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To: 2ndDivisionVet

On Friday the CEO was saying the company was fine and the stock was being beaten up by false negativity.

Why isn’t he in jail this afternoon?


14 posted on 11/24/2008 12:04:00 PM PST by DManA
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To: mysterio
According to the Urban Dictionary:



 
1. sexurity  
 
The struggle of many over the course of the world. Sexurity is a hybrid desire for sex and security without the associated drama. Sexurity is reached when a person can have sex with someone, have it mean something, more than nothing, and feel good about it short term and long term. Sexurity is much different than love, bypassing the drama.
eg.: I just want some sexurity.

 
2. sexurity  
 
When you tell someone where you're going for a booty call with a stranger, just in case he turns out to be a psycho.
eg.: "Hey Susie - I'm going back to hotel room XYZ with that guy there; just telling you for my own sexurity.
3. sexurity  
 
What many people have searched for, for much of their lives. Sexurity is the hybrid desire for sex and security at the same time. Sexurity is not love and its not sex, it is both sex and security, no drama.
eg.: Damn, can't I just get some sexurity?

 

http://www.urbandictionary.com/define.php?term=sexurity

 

15 posted on 11/24/2008 12:06:11 PM PST by MyTwoCopperCoins
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To: 2ndDivisionVet

Good grief!


16 posted on 11/24/2008 12:08:07 PM PST by lilylangtree (Veni, Vidi, Vici)
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To: MyTwoCopperCoins

I can only imagine what the sexurity derivative market consists of.


17 posted on 11/24/2008 12:08:23 PM PST by mysterio
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To: 2ndDivisionVet

...the end of living and the beginning of survival...


18 posted on 11/24/2008 12:09:21 PM PST by choctaw man (Good ole Andrew Jackson, or You're the Reason God Made Oklahoma...)
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To: 2ndDivisionVet

In September Citi took over Wachovia. They bought more than they could chew because now Citi needs bailing out. What’s wrong with this picture.


19 posted on 11/24/2008 12:10:35 PM PST by lilylangtree (Veni, Vidi, Vici)
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To: DManA
"Why isn’t he in jail this afternoon?"

Jail? He's probably on his yacht, sipping a Pina Colada and laughing his a$$ off!!

20 posted on 11/24/2008 12:15:29 PM PST by 2ndDivisionVet (Barack Obama: In Error and arrogant -- he's errogant!)
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To: lilylangtree
"In September Citi took over Wachovia. They bought more than they could chew because now Citi needs bailing out. What’s wrong with this picture."

A most excellent observation...
21 posted on 11/24/2008 12:33:46 PM PST by Pantera
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To: BlueMoose

Is what a joke? Kennedy’s comment? I hardly think so,
Congress? most assuredly.


22 posted on 11/24/2008 12:58:46 PM PST by Burlem
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To: 2ndDivisionVet

Democrats = socialism
Republicans = corporate socialism


23 posted on 11/24/2008 12:58:59 PM PST by CautiouslyHopeful
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To: 2ndDivisionVet
Because they didn't heed the warnings. (or the propaganda drowned it out)

Rush said something today they he considered controversial.
He said, “No new ideas have been put forth in over 60 years, only recycled bad ideas.”

There's a reason for that.

http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarning

24 posted on 11/24/2008 1:06:35 PM PST by wolfcreek (I see miles and miles of Texas....let's keep it that way.)
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To: lilylangtree

“In September Citi took over Wachovia. They bought more than they could chew because now Citi needs bailing out. What’s wrong with this picture.”

Update - They tried to buy Wachovia, but it ended up going to Wells Fargo.


25 posted on 11/24/2008 1:09:56 PM PST by Tandem (Multiculturalism is the dying breath at the end of any culture)
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To: 2ndDivisionVet

They sure like keeping everyone on the plantation; don’t they?


26 posted on 11/24/2008 1:13:18 PM PST by freekitty (Give me back my conservative vote.)
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To: 2ndDivisionVet
But it seems like a rescue for Citigroup is inevitable, despite opposition by many. The stock has crashed even faster than the market as a whole, and a move such as this is seen as vital to stabilizing the company and bringing confidence back to investors.

If Citigroup is so large that its failure means the failure of the American economy, then there's only one logical solution: break it up. It's a monopoly, holds too much power and its continued existence as-is is a threat to America's social stability.

27 posted on 11/24/2008 2:34:35 PM PST by E. Cartman (Washington, DC: Where the inmates really do run the asylum.)
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To: 2ndDivisionVet

Tip of the iceberg, Bloomberg (after sueing for access to treasury and FED information) just reported that our beloved leaders have set aside 7 trillion dollars of future taxpayer debt to bailout these con artists. They have already burned through half of it. That is half of our GDP. We are screwed.

Just think, the Chinese are building roads and nuclear power plants with the same amount of funding we just gave to Citibank. If we did that we would at least have something to fall back on when these jokers eventually bankrupt our country.


28 posted on 11/24/2008 3:02:29 PM PST by Gen-X-Dad
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To: mysterio

Well, the puts, longs, shorts and pulls are rather self explanatory.

It’s highly volatile too, with booms and upcycles followed rather quickly with flaccidity and downcycles.


29 posted on 11/25/2008 10:49:38 AM PST by swarthyguy (*Bush Promised us Osama, but instead we're getting Obama*)
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To: 2ndDivisionVet

Once one bailout was passed, it opened the proverbial flood gates. I suspect that Obama will attempt to bail out the American people with Stimulus checks composed of freshly printed money.


30 posted on 11/25/2008 10:56:39 AM PST by Xenophon450 ( The stain of freedom, he's washed it out... who’s rocking the cradle? I have no doubt...)
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