krugman.blogs.nytimes.com - 11/24/2008
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Mark Thoma has the rundown of informed reactions. A bailout was necessary - but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.
Amazing how much damage ...
economistsview.typepad.com - 11/24/2008
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economistsview.typepad.com —
It's bailout time. Let's start with Paul Kedrosky:
Good Bank, Bad Bank, and F---ed Bank : Apparently
Citibank and the U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on ...
(more)
The Citigroup Bailout
bloomberg.com - 11/24/2008
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bloomberg.com —
Nov. 24 (Bloomberg) -- Citigroup Inc. , facing
the threat of a breakup or sale, received $306
billion of U.S. government guarantees for troubled mortgages and toxic assets to stabilize the bank after its stock fell 60 percent last week. Citigroup ...
(more)
Citigroup Gets Guarantees on $306 Billion of Assets ...
federalreserve.gov - 11/24/2008
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federalreserve.gov —
Joint Statement by Treasury, Federal Reserve, and the
FDIC on Citigroup Washington , DC -- The U.S.
government is committed to supporting financial market stability, which is a prerequisite to restoring vigorous economic growth. In support of this ...
(more)
FRB: Press Release--Joint statement by Treasury, Federal ...
Comments
Blog Reactions
Krugman on Citigroup Bailout: "a lousy deal"
Calculated Risk —
From Paul Krugman: Citigroup Mark Thoma has the rundown of informed reactions. A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.
Citi Save
Bear Mountain Bull —
... , who quotes Paul Krugman : A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.
citi bailed for now
Decline and Fall of Western Civilization —
... possible reasons, but i'd sadly suspect first that it is because the government is in a bit of denial, still does not comprehend the seriousness of what is happening and just how many multiples of its capital citi has frittered away. and it is probably getting plenty of help in that delusion from citi itself, whose executives have unfortunately demonstrated either their lack of comprehension or the depth of their malevolent predatory drive from the start. UPDATE: i see i'm not alone in that assessment. UPDATE: in john hempton's note on a citi prepack ...
The Citigroup Bailout: What Are They Doing?
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... Citigroup - Paul Krugman Blog - NYTimes.com: Mark Thoma has the rundown of informed reactions. A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more. Amazing how much damage the lame ducks can do in the time remaining. ...
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Bailout Monday is Back —
The Big Money 11/24/2008
Following round-the-clock weekend negotiations, the federal government late on Sunday agreed to bail out yet another bank, this time giving the troubled Citigroup a $20 billion lifeline in the form of a direct investment and guaranteeing $306 ...
Citigroup's Books Are Fiction —
The Big Money 11/24/2008
Over and over, as its stock price plunged last week, Citigroup Inc. repeated the same tired line. Citigroup has “very strong capital,” the bank kept saying.
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