Citigroup Bailout

The largest U.S. bank has folded into receivership into one of the myriad of other large holdings for American Tax-Payers. Large U.S. states and counties are already entering the fiscal year in debt, and also anticipating large revenue setbacks, it seems unfathomable to expect the average citizen to now pay more in taxes with money that is nonexistent. The bulk of American homeowners who purchased/refinanced homes after 2001 are already experiencing negative equity, it seems like the perfect storm or the more appropriate example of being surrounded in a pincer tactic by creditors, utterly appalling. What disturbs me is the statement from the New York business correspondent (Ali Velshi) he is implying that the governmental action was appropriate, I disagree simply because said actions do in part- feed into the moral hazard that many economist have been warning about,more specifically with inflation when true numbers become realized which will undoubtedly have a negative impact on savings compounding with increasing costs of common goods. I had doubts as to whether the comex markets would go. bust this december, after todays event it will most assuredly occur.




Here is a chart detailing the worlds markets
http://news.bbc.co.uk/2/hi/business/7716406.stm

1.http://www.marketwatch.com/news/story/CORRECT-US-agrees-bail-out/story.aspx?gu­id={15A026EC-CEA0-4C82-92EC-199B794F0968}
2.http://www.bloomberg.com/apps/news?pid=20601081&sid=a12GLoyJY75c

Category:

News & Politics

Tags:

• velshi
• bpr
• citi
• bail
• cnn
• 576x324
• dl

[tarkineWild]

These parasites are back for more of the same..well you screw you citbigroup..again they're screwing you .

let them die..

[99cachorro]

another bailout which will prove bad for the american taxpayer  (paul krugman)