I think we're getting numb to "bailout news" but the one this morning would have sent shock waves around the world if it had been done a year ago.
Here's my understanding. The guvm'ent is sending Citigroup $20 billion of your tax dollars which is in addition to the $25 billion about a month ago (and which we've already forgotten about.) But get this: As part of the plan, the U.S. will guarantee against the "possibility of unusually large losses" on up to $306 billion of risky loans that Citigroup holds.
We're doomed.
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11.24.2008
And To Think I Just Wrote Them A Check For My Credit Card
I think we're getting numb to "bailout news" but the one this morning would have sent shock waves around the world if it had been done a year ago.
Here's my understanding. The guvm'ent is sending Citigroup $20 billion of your tax dollars which is in addition to the $25 billion about a month ago (and which we've already forgotten about.) But get this: As part of the plan, the U.S. will guarantee against the "possibility of unusually large losses" on up to $306 billion of risky loans that Citigroup holds.
We're doomed.
