Notice that they wait until Friday night to make these announcements. I think they also did this last week.
vkobaya
· 1 year ago
The other thing about this is the measure of Bush as a leader, president and ethical human being. Look how often he resorts to deception, deceit, trickery, concealing facts, and trying to sneak things by us under cover of other news or in this case, over the weekend. Sadly, it works as far to many Americans don't want to know the truth about this administration and deliberately cover their ears. Sigh!
Indigo
· 1 year ago
I'm with vkobaya on this, TGIF is turning into BNOF [bad news on Friday]. This is a heck of a market correction we're having.
Older_Wiser
· 1 year ago
But Citigroup is too big to fail!!!
Nov. 22 (Bloomberg) -- The U.S. government may step in to rescue Citigroup Inc. after a crisis in confidence erased half the bank’s stock-market value in three days, according to investors and analysts.
Citigroup’s $2 trillion of assets dwarfs companies such as American International Group Inc. that got support from the U.S. government 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.
“Citi is in the category of ‘too big to fail,’” said Michael Holland, chairman and founder of Holland & Co. in New York, which oversees $4 billion. “There is a commitment from this administration and the next to do what it takes to save Citi.”
With Mr. Geithner as TS looks like the CASINO stays open. Book those resort meetings now boys.
High Crimes & Misdemeanors
· 1 year ago
Isn't it all to convenient that these banks are getting "gobbled" up right away by other major banks??
gwpriester
· 1 year ago
Chris - Republicans are genetically unable to accept blame or responsibility. Even if they really wanted to (which of course they don't). :-) It is always someone else's fault. Some of the right wingnuts are saying this is Obama's recession and that Obama is responsible for it.
Several years ago I had an e-mail exchange with one of these folks. I compared Clinton to Bush by saying, Clinton (Bill) would get the best and the brightest in a room and pick their brains before making a big decision.
Oh, please, was his response, Clinton was incapable of making a decision. When Bush makes a mistake, he sticks with it! (huh?)
Avidor
· 1 year ago
TCF Financial got a $361 million "liquidity infusion" from the U.S. Treasury.
TCF gave $23,800 in campaign contributions this year to Michele Bachmann who says the bail-out is socialism (so does Hugo Chavez):
Michele Bachmann who says the bail-out is socialism (so does Hugo Chavez):
Then what the hell is the matter with us ungrateful Americans that Bush has finally seen the light and become a socialist. Oops! Oh right! His socialism is only for the wealthy. Hard, extreme capitalism for the common people. If they fail, they can starve and die.
Bubbles
· 1 year ago
Perhaps it should be styled: "The Great Recession: The Phil Gram memorial Great Recession."
lauram
· 1 year ago
And yet Wall St. won't let go of the failed ideas of trickle-down economics, just like the big-3 CEOs won't let go of their custom tailored private jets. These old white guys won't let go of the money train, won't share, won't consider moving the bulk of the money down the economic ladder until they absolutely bankrupt the country. Apparently, the situation is not yet dire enough to consider spending more on health care nurses and less on ICBMs; more on police officers and less on bonuses; more on EPA regulators and less on Cayman villas. They're not going to let go of the reins of power until the reins, horses, carriage, luggage and passengers disintegrate. Yeah, I guess it's better that we all go jobless than that they give up one or two of their hundreds of millions of dollars. After all, we wouldn't want to SPREAD THE WEALTH, let's just destroy it instead. Right boys?
vkobaya
· 1 year ago
They're not going to let go of the reins of power until the reins, horses, carriage, luggage and passengers disintegrate.
Nope! The moment when they finally agree to relenquish those perks, prerogatives and luxuries will the split second before the guillotine hits their necks or at best as they watch the blood spurt from the stump of the neck of the guy in front of them.
The idea of the French Revolution was pushed by some early in the Bush administration and I thought it was revolting. Sigh! Took me too long to see the light. Wish I had jumped on that bandwagon many years ago. If we had hauled out the guillotines early on, maybe there would still be 4,000 American soldiers still alive and 1.3 million innocent Iraqi civilians still left in peace and with their homeland still intact. That is to say nothing of the uncounted American soldiers who died in Afghanistan and the uncounted dead Afghani citizens.
As for the claim that Saddam was a bad, bad, bad boy. Yeah, right. Bush was a vile, evil, criminal serial and mass murdering MAN.
SCLiberal
· 1 year ago
Has anyone heard of any credit unions failing? I haven't. Mine seems to be doing just fine, even expanding.
Credit unions are set up for the members, not the CEOs. Could it be that greed just doesn't work?
green_libertarian
· 1 year ago
Whoa, Pomona First Federal failed, eh? huh, I banked there when I was a college student at Cal Poly Pomona. Their HQ branch was just 3 blocks from where I lived, an important factor back in the day.
All Comments
Nov. 22 (Bloomberg) -- The U.S. government may step in to rescue Citigroup Inc. after a crisis in confidence erased half the bank’s stock-market value in three days, according to investors and analysts.
Citigroup’s $2 trillion of assets dwarfs companies such as American International Group Inc. that got support from the U.S. government 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.
“Citi is in the category of ‘too big to fail,’” said Michael Holland, chairman and founder of Holland & Co. in New York, which oversees $4 billion. “There is a commitment from this administration and the next to do what it takes to save Citi.”
(More at Bloomberg.com)
Several years ago I had an e-mail exchange with one of these folks. I compared Clinton to Bush by saying, Clinton (Bill) would get the best and the brightest in a room and pick their brains before making a big decision.
Oh, please, was his response, Clinton was incapable of making a decision. When Bush makes a mistake, he sticks with it! (huh?)
TCF gave $23,800 in campaign contributions this year to Michele Bachmann who says the bail-out is socialism (so does Hugo Chavez):
http://tinyurl.com/55fz5b
TCF Chairman Bill Cooper is a big supporter of right-wing politicians and organizations.
The Powerline bloggers work for TCF.
TCF bought the naming rights for the new UofM stadium:
http://tinyurl.com/5ctjrv
Then what the hell is the matter with us ungrateful Americans that Bush has finally seen the light and become a socialist. Oops! Oh right! His socialism is only for the wealthy. Hard, extreme capitalism for the common people. If they fail, they can starve and die.
Nope! The moment when they finally agree to relenquish those perks, prerogatives and luxuries will the split second before the guillotine hits their necks or at best as they watch the blood spurt from the stump of the neck of the guy in front of them.
The idea of the French Revolution was pushed by some early in the Bush administration and I thought it was revolting. Sigh! Took me too long to see the light. Wish I had jumped on that bandwagon many years ago. If we had hauled out the guillotines early on, maybe there would still be 4,000 American soldiers still alive and 1.3 million innocent Iraqi civilians still left in peace and with their homeland still intact. That is to say nothing of the uncounted American soldiers who died in Afghanistan and the uncounted dead Afghani citizens.
As for the claim that Saddam was a bad, bad, bad boy. Yeah, right. Bush was a vile, evil, criminal serial and mass murdering MAN.
Credit unions are set up for the members, not the CEOs. Could it be that greed just doesn't work?