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Citi Bailout Adds to Banks' Credibility Problem


Business  (tags: money, business, corruption, dishonesty, BANKS, Banks and Banking, debt, economy )

Cal
- 1969 days ago - reuters.com
Major U.S. banks have a credibility problem.Citigroup Inc's repeated assurances that it did not need additional capital, followed by its quick about-face in accepting billions of dollars in aid from the U.S. Treasury, has many investors wondering what oth



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Comments

Darlene K. (367)
Tuesday November 25, 2008, 9:51 am

After long insisting it was strong enough to weather plunging markets, Citigroup agreed on Sunday to its second U.S. government bailout package in two months. The bank is selling $20 billion of preferred stock, slashing its dividend and granting warrants.

Citigroup will unload most of the potential losses from $306 billion of risky assets to taxpayers.

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I read this earlier in Reuters, and looked at that number $306 Billion to be slapped on the taxpapers.....It is very uncomfortable, as a taxpayer, to think of what will be the total on the taxpayers, to save the market....
Noted and thank you
 

Edward Craig (20)
Thursday November 27, 2008, 1:04 am
Tge banks don't lose as much credibility as the Treasury does.
 

Blue Bunting (855)
Friday February 13, 2009, 4:19 pm
Now that the banksters have admitted didn't need a bailout, do you think we could have our money back and put it somewhere it might do some good?
Will Marshall earned yesterday's Wanker of the Day award from Atrios for his moronic attack on Krugman, but even if you don't read the article, read the comments, which are ten times smarter than Marshall is.
 
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