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marginalrevolution.com - 11/24/2008
The Citigroup bailout
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Lots of opinions. Ugh. Arnold Kling says ugh too, with this good line: "...the employment benefit of infrastructure projects is more likely to go to the illegal immigrants who were laid off from housing construction and who otherwise would be...
online.wsj.com - 11/29/2008
Rubin Defends His Role at Citigroup
— online.wsj.com — Under fire for his role in the near-collapse of Citigroup Inc., Robert Rubin said its problems were... due to the buckling financial system, not its own mistakes, and that his role was peripheral to the bank's main operations even though he was one of ... (more) Rubin Defends His Role at Citigroup

Comments vote down Political Animal found this 11/29/2008found this
economistsview.typepad.com - 11/24/2008
The Citigroup Bailout
— 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
Comments vote down Calculated Risk found this 11/24/2008found this
U.S. Approves Plan to Help Citigroup Cope With Losses
nytimes.com - 11/23/2008
U.S. Approves Plan to Help Citigroup Cope With Losses
— nytimes.com — Regulators approved a radical plan to stabilize the bank in an arrangement in which the government could... soak up billions of dollars in losses. > (more) U.S. Approves Plan to Help Citigroup Cope With Losses

Comments vote down Calculated Risk found this 11/23/2008found this

Blog Reactions

Matthew Yglesias:  Sweetheart Deals

The Monkey Cage:  The End of Freakonomics?

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Blog Reactions

Sweetheart Deals
Matthew Yglesias — ... gift for Prince Alwaleed bin Talal of Saudi Arabia and Abu Dhabi’s sovereign wealth fund. Not sure why it serves the interests of American citizens. UPDATE: 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.” UPDATE II: Tyler Cowen: “Ugh.” UPDATE III: See also Kevin ...

The End of Freakonomics?
The Monkey Cage — ... basher. (For some of that, see the link in Lee’s previous post.) But I’m struck by how quickly the agenda in economics has appeared to change with the onset of the financial crisis, the relatively severe recession that seems imminent, and debates about how the government should response (bailouts, a stimulus, etc.). I see evidence of the changing agenda in a blog like Marginal Revolution, for example (from the past three days alone: here, here, here, and here). I wonder then if this will turn the attention of economists ...

Related Content
The 'outrageous' Citigroup bailout
washingtonmonthly.com 11/24/2008 — THE 'OUTRAGEOUS' CITIGROUP BAILOUT.... Following up on Hilzoy's item from late yesterday, Paul Krugman notes this morning that a Citigroup bailout, under the circumstances, may have been worthwhile, but this bailout is outrageous: "a lousy deal for ...
Christina Romer to chair the CEA
marginalrevolution.com 11/24/2008 — Via Greg Mankiw. She understands the Great Depression very well. Here are previous MR entries on Christina Romer, mostly touching on macroeconomics. I can't vouch for her managerial or political abilities one way or the other, but intellectually this ...
Citigroup Bailout Unwise
washparkprophet.blogspot.com 12/3/2008 — The Associated Press reported late Sunday that under the loss-sharing arrangement, Citigroup will assume the first $29 billion in losses on the risky pool of assets. Beyond that amount, the government would absorb 90 percent of the remaining losses, ...
Bush sees more moves like Citigroup bailout
msnbc.msn.com 11/24/2008 — President Bush said Monday there could be more decisions like the government’s dramatic rescue of Citigroup if other institutions need help.
Death to Citigroup
opinionator.blogs.nytimes.com 2/26/2009 — Calls for the government to take control of Citigroup are getting louder.
Krugman on Citigroup Bailout: "a lousy deal"
calculatedrisk.blogspot.com 11/24/2008 — 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 ...
Citigroup Scores
robertreich.blogspot.com 11/24/2008 — If you had any doubt at all about the primacy of Wall Street over Main Street; the utter lack of transparency behind the biggest government giveaway in history to financial executives, and their shareholders, directors, and creditors; and the intimate ...
Citigroup on the Dole
balloon-juice.com 11/24/2008 — So now we are bailing out Citigroup : Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late ...
Time for the Government to Buy Citigroup
delong.typepad.com 11/21/2008 — No real point to merging it into JPMorgan Chase or Bank of America. And it is definitely too big to fail. Who wants to be Deputy Assistant Secretary of the Treasury for Citigroup? Peter Eavis: Share Slump Tests Citi Limits : Following steep ...
Citigroup Bailed Out
motherjones.com 11/24/2008 — CITIGROUP BAILED OUT.... The feds have finally agreed on a plan to bail out Citigroup. The Wall Street Journal has the details: Under the plan, Citigroup and the government have identified a pool of about $306 billion in troubled assets. Citigroup ...